NZD/CHF Down 2 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; 3 Day Down Streak Ended

Hourly Update

(Last Updated December 16, 2021 1:43 GMT)

At the moment, NZDCHF’s rate is down -2 pips (-0.04%) from the hour prior. The hourly chart shows that NZDCHF has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend 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)

NZDCHF, which opened today priced near 0.6267727536, is up 40 pips 0.64% since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 11th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for NZDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is 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.

The past is the key to the present and we may having a grand tour on what that means… The chart psychology predicts that at this time 2019 moving to 2020 we see price at the R zone taking a bearish rally down to the WRTL RZ…. Fast-forward to current price it is no coincidence that price is at that R zone at the same particular period now in this case moving to (2022). how long can you hold?finger crossed as i look to ride with the bears since a double top as been spotted and with a bearish engulfing candle stick… price at WRTL PEP Either way We move