NZD/CHF Down 3 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Came Into Today Up For the 2nd Straight Day

Hourly Update

(Last Updated June 8, 2022 1:43 GMT)

Currently, NZDCHF’s rate is down -3 pips (-0.04%) from the hour prior. This is the 2nd hour in a row NZDCHF has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 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)

NZDCHF is up 13 pips (0.2%) since yesterday (opening today near 0.6311136832), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 21st in terms of percentage change since yesterday. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6259, 0.6325, 0.6286 and 0.6346 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 50 day average, which is 13.7 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.