(Last Updated June 2, 2021 2:22 GMT)
At the time of this writing, NZDCHF’s rate is up 3 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see downtrend 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 20, 50, 100 and 200 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 back and forth price flow continues for NZDCHF, which started today off at 0.6504081918, down 34 pips 0.51% from the day prior. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 36th in terms of percentage change since the day prior. Below is a price chart of NZDCHF.
NZDCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed below its 20 and 100 day moving averages 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 12.1 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 90 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 14 days NZDCHF’s price has gone down 9 them.