NZD/CHF Down 2 Pips in Last Hour, Makes Big Move Relative to Past Month; 2 Day Down Streak Broken

Hourly Update

(Last Updated June 3, 2022 1:44 GMT)

At the moment, NZDCHF’s rate is down -2 pips (-0.03%) from the hour prior. NZDCHF has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 0.6282825505, up 43 pips 0.69% 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. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed above its 20 day moving average yesterday. 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 100 day average, which is 1.3 pips away. It should be noted, though, the 100 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 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 16 out of the past 30 days.

The View From Around the Web

Not much commentary on NZDCHF that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price already make a new low on H1 timeframe as we can see Quasimodo pattern… Before entry please find confirmation first… no confirmation no entry