NZDCHF Down 5 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated June 3, 2021 4:23 GMT)

At the time of this writing, NZDCHF’s rate is down -5 pips (-0.08%) 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 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)

NZDCHF is down 6 pips (0.1%) since yesterday (opening today near 0.6497740961), marking the 2nd straight day it has gone down. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 26th in terms of percentage change since yesterday. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that the current price of NZDCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 13.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 19 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.