USD/CNH Down 7 Pips in Last 4 Hours

USD/CNH 4 Hour Price Update

Updated April 06, 2020 11:29 AM GMT (07:29 AM EST)

USD/CNH, which opened the current 4 hour candle priced near 7.11508, is down 7 pips 0.01% since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 4 four-hour candle positive run. Compared to its peers in the Forex, USD/CNH gave its buyers a return that ranked 23rd in terms of percentage change since the last 4 hour candle.

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 7.10665, up 156 pips (0.22%) since the day prior. Out of the 40 instruments in the Forex asset class, USD/CNH ended up ranking 4th for the day in terms of price change. Below is a price chart of USD/CNH.

USD/CNH Technical Analysis

The first thing we should note is that USD/CNH is now close to its 20, 50, 100 and 200 day averages, located at 7.066, 7.0181, 6.9992 and 7.0164 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 406.5 pips away. Volatility for USD/CNH has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 5 out of the past 10 days.