USDCHF Down 2 Pips On Hourly Chart, Crosses 200 Day Moving Average; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated April 29, 2021 2:14 GMT)

At the time of this writing, USDCHF’s rate is down -2 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 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 20 and 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 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 is down 50 pips (0.55%) since yesterday (opening today near 0.90896), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 34th in terms of percentage change since yesterday. The price chart of USDCHF below illustrates.

USDCHF

USDCHF Technical Analysis

Notably, USDCHF crossed below its 200 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 200 day average, which is 0.1 pips away. 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. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 17 out of the past 30 days.