USD/CHF Down 3 Pips Over Past 4 Hours, Breaks Below 20 Day Average; Pin Bar Pattern Appearing on Chart

USD/CHF 4 Hour Price Update

Updated July 01, 2020 01:06 AM GMT (09:06 PM EST)

USD/CHF entered the current 4 hour candle at 0.9472, down 3 pips (0.03%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/CHF ended up ranking 29th for the four-hour candle in terms of price change.

USD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CHF is down 38 pips (0.4%) since the previous day (opening today near 0.94706), marking the 2nd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USD/CHF ranked 32nd the previous day in terms of percentage price change. Here is a price chart of USD/CHF.

USD/CHF Technical Analysis

Notably, USD/CHF crossed below its 20 day moving average yesterday. Volatility for USD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days USD/CHF’s price has gone down 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDCHF, with 13 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 1.44, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, divergence, fibonacci and triangle technical patterns. Here’s a piece we found on that we thought you might enjoy.