NZDCHF Down 3 Pips Over Past Hour; Moves Up For the 3rd Straight Day

Hourly Update

(Last Updated January 4, 2021 2:21 GMT)

At the moment, NZDCHF’s rate is down -3 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCHF is up 19 pips (0.29%) since yesterday (opening today near 0.63646), marking the 3rd straight day it has gone up. Relative to other instruments in the Forex asset class, NZDCHF ranked 14th yesterday in terms of percentage price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20 and 50 day averages, located at 0.6294 and 0.6246 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.

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. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.