USD/CHF Up 59 Pips; in a Downtrend Over Past 30 Days

USD/CHF Price Recap

USD/CHF enters today at 0.94372 in US dollars, up 59 pips (0.63%) from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 45.2% from the day prior, and up 34.01% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/CHF ended up ranking 16th for the day in terms of day-over-day price change. Below is a price chart of USD/CHF.

USD/CHF Technical Analysis

The first thing we should note is that USD/CHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days USD/CHF’s price has gone down 7 them.