NZDCHF Up 9 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated May 6, 2021 3:22 GMT)

Currently, NZDCHF’s rate is up 9 pips (0.14%) from the hour prior. NZDCHF has seen its price go up 5 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. 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)

The back and forth price flow continues for NZDCHF, which started today off at 0.659121393, up 49 pips 0.75% from the day prior. Relative to other instruments in the Forex asset class, NZDCHF ranked 2nd the day prior in terms of percentage price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, 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. Also of note is that on a 30 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 14 days NZDCHF’s price has gone up 7 them.