NZD/CHF Down 2 Pips On Hourly Chart, Makes Big Move Relative to Past Month; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated August 4, 2022 1:44 GMT)

At the time of this writing, NZDCHF’s rate is down -2 pips (-0.03%) 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 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 entered today at 0.6022335, up 33 pips (0.55%) from yesterday. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 11th in terms of percentage change since yesterday. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days.