NZDCHF Down 3 Pips in Last Hour, Price Base in Formation Over Past 30 Days; Eyes 20, 50 and 200 Day Averages

Hourly Update

(Last Updated July 19, 2021 6:20 GMT)

Currently, NZDCHF’s rate is down -3 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move 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 0.6438846848, up 12 pips 0.19% from the previous day. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 9th in terms of percentage change since the previous day. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

Coming into today NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6447, 0.6466, 0.6531 and 0.6419 respectively, and thus may be at a key juncture along those timeframes. 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. Price action traders in particular will want to note that the 30 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 up 15 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDCHF is going to touch 0.618, and formed double top,i will look for sell