USDCHF Up 4 Pips Over Past Hour, in an Uptrend Over Past 30 Days; is Inching Close to 20 Day Average

Hourly Update

(Last Updated October 8, 2021 10:12 GMT)

At the time of this writing, USDCHF’s rate is up 4 pips (0.05%) from the hour prior. USDCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

The choppiness in the recent daily price action of USDCHF continues; to start today, it came in at a price of 0.92873, up 11 pips (0.12%) since the day prior. Relative to other instruments in the Forex asset class, USDCHF ranked 21st the day prior in terms of percentage price change. The price chart of USDCHF below illustrates.

USDCHF

USDCHF Technical Analysis

Notably, USDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.9264, 0.9195, 0.9151 and 0.9121 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 6 out of the past 10 days.