NZD/CHF Down 5 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; is Inching Close to 50 and 200 Day Averages

Hourly Update

(Last Updated April 28, 2022 1:44 GMT)

Currently, NZDCHF’s rate is down -5 pips (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists 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)

A moment of silence, please, for the end of NZDCHF’s 4 day down streak; price ended the day prior up 8 pips (0.13%) to finish the day at a rate of 0.6334818516. Relative to other instruments in the Forex asset class, NZDCHF ranked 18th the day prior in terms of percentage price change. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6393, 0.6356, 0.6277 and 0.6362 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 21.4 pips away. Trend traders will want to observe that the strongest trend appears on the 30 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 day timeframe. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.