USD/CHF: Daily Range, Character and Trading Hours
USD/CHF moves a median of 48 pips per day. Half of all days fall between 34 and 66 pips, and the widest day in our sample reached 210. Every figure below comes from 518 daily bars covering 2024-07-29 to 2026-07-30.
USD/CHF character: how the pair behaves
The Swiss franc behaves as a safe haven, so USD/CHF often moves as a mirror of EUR/USD rather than on its own story. Its range is narrower than most majors, and its quiet periods are quieter.
Measured daily range
- Median daily range: 48 pips
- Typical band (middle 80% of days): 34–66 pips
- Widest single day in sample: 210 pips
- Median close-to-close change: 25 pips; the largest 20% of days exceed 47
- Range of the pair over the whole period: 0.7632–0.9168, a span of 1536 pips
The gap between the median range and the widest day is the number worth remembering. A stop sized for a typical day is not a stop sized for the tail, and the tail is where accounts are damaged.
When it trades
European hours dominate. Outside them the pair frequently does almost nothing.
Who it suits
A useful pair for range work, but its narrow range means costs eat a larger share of each trade. Check the spread before assuming a small target is worth taking.
Sizing a position on USD/CHF
The narrow range cuts both ways. Stops can be tighter in absolute terms, but so are targets, and the spread claims a larger share of each trade. Before trading a small target here, compare it against your actual round-turn cost — often the arithmetic does not work.
Data: 518 daily bars, 3 incomplete bars excluded. The sample is available for download and the method is described in how we run backtests. What actually moves this pair is covered separately in what drives USD/CHF.
This material is educational and is not individual investment advice. Trading forex carries the risk of losing capital.
Frequently asked questions
Why does USD/CHF often mirror EUR/USD?
Because the franc side is frequently the quieter one, so the pair mostly expresses dollar direction. Comparing the two charts is a quick way to tell whether a move is dollar-driven or franc-driven.
Is USD/CHF a good pair for range trading?
Its narrow range suits range tactics, but the same narrowness means costs claim a larger share of each trade. Check your round-turn cost against the target before assuming the tactic is viable.
What is the main risk in Swiss franc pairs?
Central bank action. The Swiss National Bank has intervened repeatedly, and the 2015 removal of the euro floor produced a move that ordinary trading does not cover in months.
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