NZD/CHF Down 2 Pips Over Past Hour, Makes Big Move Relative to Past Month; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated August 2, 2022 1:41 GMT)

Currently, NZDCHF’s rate is down -2 pips (-0.04%) 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 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 choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.60112845, up 29 pips (0.48%) since the day prior. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 9th in terms of percentage change since the day prior. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20 and 50 day averages, located at 0.6013 and 0.6102 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. 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. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone up 7 them.