(Last Updated November 23, 2020 2:20 GMT)
Currently, NZDCHF’s rate is up 7 pips (0.11%) from the hour prior. The hourly chart shows that NZDCHF has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
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 0.6311, up 20 pips 0.32% from yesterday. Out of the 40 instruments in the Forex asset class, NZDCHF ended up ranking 8th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
The first thing we should note is that the current price of NZDCHF is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 18 out of the past 30 days.