(Last Updated February 22, 2021 23:22 GMT)
At the moment, NZDCHF’s rate is down -7 pips (-0.11%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. 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)
NZDCHF is up 73 pips (1.12%) since the previous day (opening today near 0.653996133), marking the 3rd straight day it has gone up. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 3rd for the day in terms of price change. Here is a price chart of NZDCHF.
NZDCHF Technical Analysis
Notably, NZDCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone up 6 them.