NZDCHF Down 1 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; 6 Day Down Streak Snapped

Hourly Update

(Last Updated November 4, 2021 3:21 GMT)

At the time of this writing, NZDCHF’s rate is down -1 pips (-0.02%) from the hour prior. The hourly chart shows that NZDCHF has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDCHF. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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, which opened today priced near 0.6536145312, is up 19 pips 0.28% since the previous day, marking a reversal from the day prior — and the end of a 6 day negative run. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 15th in terms of percentage change since the previous day. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed above its 20 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 20 day average, which is 8.1 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. For additional context, note that price has gone down 8 out of the past 10 days.