(Last Updated September 22, 2021 1:45 GMT)
At the moment, USDCHF’s rate is down -2 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 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 down 40 pips (0.44%) since the previous day (opening today near 0.92367), marking the 2nd consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 30th for the day in terms of price change. The price chart of USDCHF below illustrates.
USDCHF Technical Analysis
Notably, USDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.9192, 0.9166, 0.9122 and 0.9096 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 5 out of the past 10 days.