USDCHF Down 2 Pips Over Past Hour, Came Into Today Up For the 3rd Straight Day; is Inching Close to 50 Day Average

Hourly Update

(Last Updated April 23, 2021 2:14 GMT)

At the time of this writing, USDCHF’s rate is down -2 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDCHF has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 4 pips (0.04%) since the day prior (opening today near 0.91707), marking the 3rd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 14th for the day in terms of price change. Below is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Notably, the current price of USDCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 44.4 pips away. The clearest trend exists on the 90 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 14 and 30 day timeframes. Or to simplify this another way, note that out of the past 10 days USDCHF’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!