USD/CHF Down 7 Pips Over Past Hour, Came Into Today Up For the 4th Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated September 30, 2021 21:30 GMT)

At the moment, USDCHF’s rate is down -7 pips (-0.07%) from the hour prior. The hourly chart shows that USDCHF has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 downtrend on the 10 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)

USDCHF is up 50 pips (0.54%) since yesterday (opening today near 0.93432), marking the 4th consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 7th for the day in terms of price change. Below is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

The first thing we should note is that USDCHF is now close to its 20, 50 and 100 day averages, located at 0.9229, 0.9177 and 0.9135 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 up over that time. For additional context, note that price has gone up 9 out of the past 14 days.