(Last Updated October 14, 2020 2:19 GMT)
At the moment, NZDCHF’s rate is up 3 pips (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCHF has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 200 hour changed directions on NZDCHF; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
NZDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for NZDCHF, which started today off at 0.6077, up 36 pips 0.6% from yesterday. Out of the 40 instruments in the Forex asset class, NZDCHF ended up ranking 4th for the day in terms of price change. The price chart of NZDCHF below illustrates.
NZDCHF Technical Analysis
First things first: NZDCHF crossed above its 20, 50 and 200 day moving averages 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 20 day average, which is 0.9 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days.