NZD/CHF Down 1 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated May 4, 2022 1:43 GMT)

At the time of this writing, NZDCHF’s rate is down -1 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend 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)

NZDCHF is up 3 pips (0.05%) since the day prior (opening today near 0.6295013692), marking the 2nd consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 18th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 16.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 19 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.