NZDCHF Up 1 Pips On Hourly Chart, 3 Day Down Streak Broken; Nears 200 Day Moving Average

Hourly Update

(Last Updated July 13, 2021 1:21 GMT)

At the moment, NZDCHF’s rate is up 1 pips (0.02%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCHF has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 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 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)

A moment of silence, please, for the end of NZDCHF’s 3 day down streak; price ended the day prior up 38 pips (0.6%) to finish the day at a rate of 0.6397803375. Relative to other instruments in the Forex asset class, NZDCHF ranked 8th the day prior in terms of percentage price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6448, 0.648, 0.6542 and 0.641 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 12.4 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 6 out of the past 10 days.