NZD/CHF Down 2 Pips On Hourly Chart, 3 Day Up Streak Broken; is Inching Close to 20 Day Average

Hourly Update

(Last Updated December 27, 2021 1:41 GMT)

At the moment, NZDCHF’s rate is down -2 pips (-0.03%) 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 20 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 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 0.6267312, is down 2 pips 0.03% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 20th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

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. 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. 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. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone down 6 them.