(Last Updated October 9, 2020 2:19 GMT)
At the moment, NZDCHF’s rate is up 3 pips (0.05%) from the hour prior. This is the 2nd consecutive hour NZDCHF has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on NZDCHF; it is now pointing up. 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 the previous day (opening today near 0.60215), marking the 4th day in a row a decline has happened. Relative to other instruments in the Forex asset class, NZDCHF ranked 26th the previous day in terms of percentage price change. The price chart of NZDCHF below illustrates.
NZDCHF Technical Analysis
Notably, 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 50 day average, which is 30.8 pips away. 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. For additional context, note that price has gone down 6 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!