NZD/CHF Down 2 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Breaks Above 20 and 200 Day Averages

Hourly Update

(Last Updated September 24, 2021 1:50 GMT)

At the moment, 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. 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 is up 64 pips (0.99%) since the day prior (opening today near 0.653629098), marking the 2nd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 8th for the day in terms of price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed above its 20 and 200 day moving averages 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 20 day average, which is 28.6 pips away. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Also of note is that on a 90 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 19 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

still got some sells running but i’ll be looking to add more around this area to then try and ht the 200 day e3ma