USDCHF Up 7 Pips Over Past Hour, 3 Day Down Streak Broken; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 8, 2021 3:14 GMT)

At the time of this writing, USDCHF’s rate is up 7 pips (0.08%) from the hour prior. This is the 3rd consecutive hour USDCHF has seen its price head up. 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 20, 50, 100 and 200 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)

After 3 down days, USDCHF snaps its streak, rising 61 pips (0.69%) over the past day to close at an exchange rate of 0.88424. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 4th in terms of percentage change since the day prior. The price chart of USDCHF below illustrates.

USDCHF

USDCHF Technical Analysis

The first thing we should note is that the current price of USDCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 down over that time. For additional context, note that price has gone down 7 out of the past 10 days.