(Last Updated January 5, 2021 2:22 GMT)
At the time of this writing, NZDCHF’s rate is down -4 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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 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)
NZDCHF, which opened today priced near 0.63205, is down 44 pips 0.69% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, NZDCHF ranked 35th yesterday in terms of percentage price change. Here is a price chart of NZDCHF.
NZDCHF Technical Analysis
Coming into today NZDCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone up 5 them.