(Last Updated October 12, 2020 2:20 GMT)
Currently, NZDCHF’s rate is down -3 pips (-0.05%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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)
After 4 down days, NZDCHF snaps its streak, rising 44 pips (0.73%) over the past day to close at an exchange rate of 0.60655. Out of the 40 instruments in the Forex asset class, NZDCHF ended up ranking 8th for the day in terms of price change. Here is a price chart of NZDCHF.
NZDCHF Technical Analysis
Notably, NZDCHF crossed above its 50 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 200 day average, which is 10.5 pips away. It should be noted, though, the 20 and 50 day simple moving averages turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 15 out of the past 30 days.