(Last Updated October 12, 2021 0:12 GMT)
At the time of this writing, USDCHF’s rate is up 4 pips (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 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)
The choppiness in the recent daily price action of USDCHF continues; to start today, it came in at a price of 0.92695, down 18 pips (0.19%) since the day prior. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 27th for the day in terms of price change. Let’s take a look at price chart of USDCHF.
USDCHF Technical Analysis
The first thing we should note is that 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDCHF’s price has gone up 16 them.