NZDCHF Down 4 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated April 7, 2021 3:22 GMT)

At the time of this writing, NZDCHF’s rate is down -4 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see downtrend 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 20, 50, 100 and 200 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 entered today at 0.6570539689, down 46 pips (0.69%) from yesterday. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 33rd in terms of percentage change since yesterday. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50 and 100 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. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. 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. For additional context, note that price has gone up 6 out of the past 14 days.