NZDCHF Up 0 Pips in Last Hour, Crosses 50 Day Moving Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 27, 2021 2:21 GMT)

At the time of this writing, NZDCHF’s rate is up 0 pips (0.01%) from the hour prior. This is the 2nd consecutive hour NZDCHF has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on NZDCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCHF is up 39 pips (0.6%) since the day prior (opening today near 0.6612970672), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, NZDCHF ranked 8th the day prior in terms of percentage price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed above 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 50 day average, which is 17 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much commentary on NZDCHF that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.