(Last Updated March 26, 2021 23:14 GMT)
At the moment, USDCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is the 2nd consecutive hour USDCHF has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDCHF. Given that we see an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
USDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDCHF is up 39 pips (0.41%) since the day prior (opening today near 0.9397), marking the 3rd straight day it has gone up. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 8th for the day in terms of price change. Here is a price chart of USDCHF.
USDCHF Technical Analysis
Notably, USDCHF is now close to its 20 day averages, located at 0.9265 respectively, and thus may be at a key juncture along those timeframes. 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 131.8 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. For additional context, note that price has gone up 5 out of the past 10 days.