(Last Updated May 6, 2021 2:22 GMT)
Currently, NZDCHF’s rate is up 1 pips (0.02%) from the hour prior. NZDCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 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 0.659121393, up 49 pips (0.75%) from the day prior. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 2nd in terms of percentage change since the day prior. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed above its 20 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 7.9 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.