NZDCHF Up 0 Pips On Hourly Chart, 2 Day Up Streak Broken; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated June 9, 2021 20:23 GMT)

At the time of this writing, NZDCHF’s rate is up 0 pips (0.01%) from the hour prior. This is the 3rd straight hour NZDCHF has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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 downtrend 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NZDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCHF entered today at 0.6450738332, down 34 pips (0.52%) from the day prior. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 38th for the day in terms of price change. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6494, 0.6538, 0.654 and 0.637 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 20 day average, which is 43.1 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 14 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 10 days NZDCHF’s price has gone up 5 them.