NZD/CHF Down 1 Pips in Last Hour, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated July 13, 2022 1:41 GMT)

Currently, NZDCHF’s rate is down -1 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.60230976, up 18 pips (0.29%) since the previous day. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 7th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, the current price of NZDCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for NZDCHF 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 down. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 16 out of the past 30 days.