USD/CHF Down 3 Pips in Last 4 Hours, 2 Day Down Streak Snapped; in a Downtrend Over Past 30 Days

USD/CHF 4 Hour Price Update

Updated July 02, 2020 01:17 AM GMT (09:17 PM EST)

The choppiness in the recent four-hour candle price action of USD/CHF continues; to start the current 4 hour candle, it came in at a price of 0.9456, down 3 pips (0.03%) since the previous 4 hours. Compared to its peers in the Forex, USD/CHF gave its buyers a return that ranked 19th in terms of percentage change since the previous 4 hours.

USD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CHF entered today at 0.94577, up 1 pips (0.01%) from the previous day. Relative to other instruments in the Forex asset class, USD/CHF ranked 19th the previous day in terms of percentage price change. Below is a price chart of USD/CHF.

USD/CHF Technical Analysis

Coming into today USD/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 30 days USD/CHF’s price has gone up 15 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on USDCHF, with 14 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 3.5, which is bullish. As for the rationale, technical traders seem to be citing the appearance of flag and stochastic technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price is facing bullish pressure from our trend line , 78.6% retracement and 127.2% extension where we could see a bounce above this level. Stochastic is approaching support as well.