(Last Updated July 15, 2021 1:12 GMT)
At the moment, USDCHF’s rate is up 3 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDCHF is up 39 pips (0.43%) since yesterday (opening today near 0.91899), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 7th in terms of percentage change since yesterday. Here is a price chart of USDCHF.
USDCHF Technical Analysis
First things first: USDCHF crossed above its 100 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 3.2 pips away. Volatility for USDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 18 out of the past 30 days.