USD/CHF Down 5 Pips On 4 Hour Chart, 2 Day Down Streak Ended; in a Downtrend Over Past 14 Days

USD/CHF 4 Hour Price Update

Updated August 08, 2020 09:23 AM GMT (05:23 AM EST)

USD/CHF is down 5 pips (0.05%) since the last 4 hour candle (opening the current 4 hour candle near 0.9125), marking the 2nd candle in a row a decline has happened. Out of the 37 instruments in the Forex asset class, USD/CHF ended up ranking 20th 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 entered today at 0.90971, up 13 pips (0.14%) from yesterday. Compared to its peers in the Forex, USD/CHF gave its buyers a return that ranked 23rd in terms of percentage change since yesterday. The price chart of USD/CHF below illustrates.

USD/CHF

USD/CHF Technical Analysis

The first thing we should note is that USD/CHF is now close to its 20 day averages, located at 0.9259 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days USD/CHF’s price has gone down 18 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on USDCHF, with 8 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 2.67, which is bullish. As for the rationale, technical traders seem to be citing the appearance of fibonacci, trendline and triangle technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.