NZDCHF Down 19 Pips in Last Hour, Entered Today Down For the 3rd Day In A Row; is Inching Close to 50 Day Average

Hourly Update

(Last Updated October 8, 2020 2:19 GMT)

At the time of this writing, NZDCHF’s rate is down -19 pips (-0.32%) 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. 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 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 12 pips (0.2%) since the day prior (opening today near 0.60275), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, NZDCHF ranked 29th the day prior in terms of percentage price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.608, 0.6054, 0.6086 and 0.6059 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 26.1 pips away. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone up 16 them.