USD/CHF Up 4 Pips Over Past Hour; Entered Today Up For the 2nd Consecutive Day

Hourly Update

(Last Updated November 17, 2021 1:42 GMT)

At the moment, USDCHF’s rate is up 4 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend 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 53 pips (0.57%) since yesterday (opening today near 0.93064), marking the 2nd consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, USDCHF ended up ranking 12th for the day in terms of price change. Let’s take a look at price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Coming into today USDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 84.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 6 out of the past 10 days.