(Last Updated October 6, 2021 10:21 GMT)
At the moment, NZDCHF’s rate is down -8 pips (-0.13%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 0.6457300816, up 21 pips (0.33%) since the day prior. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 11th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
Notably, NZDCHF crossed above its 50 and 100 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 100 day average, which is 14.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 6 out of the past 10 days.