USDCHF Down 6 Pips Over Past Hour, 3 Day Down Streak Snapped; Breaks Above 20 Day Average

Hourly Update

(Last Updated October 6, 2021 10:12 GMT)

At the moment, USDCHF’s rate is down -6 pips (-0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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)

USDCHF, which opened today priced near 0.92836, is up 36 pips 0.39% since yesterday, 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 9th yesterday in terms of percentage price change. Let’s take a look at price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Notably, USDCHF crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days.