(Last Updated July 19, 2021 6:12 GMT)
Currently, USDCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is the 3rd consecutive hour USDCHF has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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 16 pips (0.18%) since the previous day (opening today near 0.91952), marking the 2nd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 11th for the day in terms of price change. Here is a price chart of USDCHF.
USDCHF Technical Analysis
Notably, USDCHF crossed above its 20 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 0.4 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. 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. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 10 out of the past 14 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on USDCHF, with 4 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.4, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
USDCHF is trending to the upside currently, and the trend has made a pullback prior to the USD 3 Month Bill auction. The Bill Auction reveals the yield for the bill, and interest rate yields on USA government debt are a key indicator for global markets. Technically the pair has pulled back towards support, and we anticipate continued upside with the data release.