(Last Updated July 15, 2021 2:7 GMT)
Currently, NZDCHF’s rate is down -1 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 back and forth price flow continues for NZDCHF, which started today off at 0.6437623255, up 57 pips 0.89% from the day prior. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 4th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
Notably, NZDCHF crossed above its 200 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 20 day average, which is 8.3 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days.