USDCHF Up 4 Pips in Last Hour, 3 Day Down Streak Ended; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated January 4, 2021 2:14 GMT)

At the time of this writing, USDCHF’s rate is up 4 pips (0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 200 hour changed directions on USDCHF; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDCHF, which opened today priced near 0.88558, is up 43 pips 0.49% since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the Forex asset class, USDCHF ranked 7th the previous day in terms of percentage price change. Below is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Coming into today USDCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 down. For additional context, note that price has gone down 20 out of the past 30 days.