(Last Updated March 31, 2021 0:14 GMT)
At the time of this writing, USDCHF’s rate is up 1 pips (0.01%) from the hour prior. This is the 2nd consecutive hour USDCHF has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 down 6 pips (0.07%) since yesterday (opening today near 0.93894), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, USDCHF ranked 23rd yesterday in terms of percentage price change. Here is a price chart of USDCHF.
USDCHF Technical Analysis
Notably, USDCHF is now close to its 20 day averages, located at 0.9293 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 96.8 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 down 8 out of the past 14 days.