USDCHF Down 4 Pips in Last Hour, in an Uptrend Over Past 30 Days; is Inching Close to 20 Day Average

Hourly Update

(Last Updated September 30, 2021 2:12 GMT)

Currently, USDCHF’s rate is down -4 pips (-0.04%) from the hour prior. USDCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDCHF. Given that we see an uptrend 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)

The choppiness in the recent daily price action of USDCHF continues; to start today, it came in at a price of 0.92512, up 7 pips (0.08%) since the day prior. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 15th for the day in terms of price change. Here is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Notably, USDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.9208, 0.917, 0.9127 and 0.9101 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 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.