NZD/CHF Down 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 100 Day Average

Hourly Update

(Last Updated November 22, 2022 1:43 GMT)

At the time of this writing, NZDCHF’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 0.5846064, down 25 pips (0.42%) since the previous day. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 32nd in terms of percentage change since the previous day. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed below its 100 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 100 day average, which is 6.3 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 8 out of the past 14 days.