NZD/CHF Down 4 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 22, 2022 1:42 GMT)

At the moment, NZDCHF’s rate is down -4 pips (-0.07%) from the hour prior. NZDCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 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, 10 and 5 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 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 25 pips (0.43%) since yesterday (opening today near 0.5653032), marking the 3rd consecutive day it has gone down. Relative to other instruments in the Forex asset class, NZDCHF ranked 22nd yesterday in terms of percentage price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

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. For additional context, note that price has gone down 11 out of the past 14 days.