(Last Updated November 23, 2021 1:36 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 20 hour timeframe. 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 38 pips (0.41%) since the day prior (opening today near 0.9326), marking the 2nd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 10th for the day in terms of price change. Let’s take a look at price chart of USDCHF.
USDCHF Technical Analysis
Coming into today USDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.9191, 0.9229, 0.9194 and 0.917 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 50 day average, which is 96.9 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days USDCHF’s price has gone up 8 them.