NZDCHF Up 8 Pips On Hourly Chart, Breaks Below 50 Day Average; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated March 26, 2021 1:22 GMT)

Currently, NZDCHF’s rate is up 8 pips (0.12%) from the hour prior. This is the 2nd straight hour NZDCHF has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on NZDCHF; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NZDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCHF is down 13 pips (0.19%) since yesterday (opening today near 0.6520114776), marking the 5th day in a row a decline has happened. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone down 7 them.