(Last Updated July 16, 2021 18:20 GMT)
Currently, NZDCHF’s rate is up 7 pips (0.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 entered today at 0.6426655074, down 11 pips (0.17%) from the day prior. Relative to other instruments in the Forex asset class, NZDCHF ranked 22nd the day prior in terms of percentage price change. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
The first thing we should note is that NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6445, 0.6468, 0.6533 and 0.6417 respectively, and thus may be at a key juncture along those timeframes. 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 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone down 9 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDCHF, with 0 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
https://www.tradingview.com/x/L1xmoUkW/Hello,Friends!NZDCHF current trading paterns are clearly pointing in the direction of a shortThat is why I am bearish on the Symbol pair And I think it will go downLike and subscribe and comment my ideas if you like them!