USDCHF Up 1 Pips in Last Hour, Came Into Today Up For the 2nd Day In A Row; Breaks Above 20 Day Average

Hourly Update

(Last Updated July 19, 2021 3:12 GMT)

Currently, USDCHF’s rate is up 1 pips (0.01%) from the hour prior. The hourly chart shows that USDCHF has seen 2 straight up hours. Regarding the trend, note that the strongest trend 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 day prior (opening today near 0.91952), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 11th in terms of percentage change since the day prior. Let’s take a look at price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

First things first: 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 18 out of the past 30 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.