USD/CNH Down 225 Pips On 4 Hour Chart, Fares the Worst Out of Forex; Nears 20 Day Moving Average

USD/CNH 4 Hour Price Update

Updated April 03, 2020 12:53 AM GMT (08:53 PM EST)

The choppiness in the recent four-hour candle price action of USD/CNH continues; to start the current 4 hour candle, it came in at a price of 7.09457, down 225 pips (0.32%) since the last 4 hour candle. Out of the 40 instruments in the Forex asset class, USD/CNH ended up ranking 34th for the four-hour candle in terms of price change.

USD/CNH End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USD/CNH continues; to start today, it came in at a price of 7.0911, down 317 pips (0.44%) since the day prior. On a relative basis, USD/CNH was the worst performer out of all 40 of the assets in the Forex asset class. The price chart of USD/CNH below illustrates.

USD/CNH Technical Analysis

Coming into today USD/CNH is now close to its 20, 50, 100 and 200 day averages, located at 7.0571, 7.0145, 6.9984 and 7.0153 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 340.5 pips away. Or to simplify this another way, note that out of the past 10 days USD/CNH’s price has gone down 6 them.