NZDCHF Up 9 Pips Over Past Hour; Came Into Today Up For the 2nd Consecutive Day

Hourly Update

(Last Updated September 4, 2020 9:52 GMT)

At the time of this writing, NZDCHF’s rate is up 9 pips (0.15%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCHF has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. 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 up 22 pips (0.35%) since the day prior (opening today near 0.61637), marking the 2nd consecutive day it has gone up. Out of the 40 instruments in the Forex asset class, NZDCHF ended up ranking 7th for the day in terms of price change. 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 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 200 day average, which is 56.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone up 6 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCHF, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

-> Analysis of 04 Sep. -> Good Morning Friends, here my 1H-Chart idea to NZD/CHF. -> (all further information can be found in the chart) -> Please note: These analyses are not intended as investment recommendations! The analyses presented by me are in no way to be understood as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. Many thanks for your attention


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram