NZD/CHF Down 3 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 23, 2022 2:27 GMT)

At the moment, NZDCHF’s rate is down -3 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 down 1 pips (0.02%) since the day prior (opening today near 0.58450038), marking the 2nd consecutive day a decline has happened. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 17th for the day in terms of price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 100 day average, which is 6 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone up 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 3 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello traders! ‼️ This is my analysis on NZDCHF . Here we are bearish from daily perspective, so I am looking for shorts. I expect we could see the sell-off from here as price filled the imbalance and rejected from institutional big figure 0.59000. If you want a conservative entry, wait price to reject from bearish orderblock.Like, comment and subscribe to be in touch with my content!