USDCHF Up 5 Pips On Hourly Chart, Entered Today Down For the 3rd Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated April 20, 2021 2:14 GMT)

Currently, USDCHF’s rate is up 5 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDCHF is down 49 pips (0.54%) since yesterday (opening today near 0.91485), marking the 3rd straight day a decline has happened. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 32nd in terms of percentage change since yesterday. Below is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDCHF crossed below its 50 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 200 day average, which is 49.3 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 down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days USDCHF’s price has gone down 10 them.