NZDCHF Down 0 Pips On Hourly Chart, Came Into Today Up For the 3rd Consecutive Day; Eyes 20 and 200 Day Averages

Hourly Update

(Last Updated July 23, 2021 2:22 GMT)

Currently, NZDCHF’s rate is down 0 pips (-0.01%) 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 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDCHF. Given that we see an uptrend on the 20 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 up 27 pips (0.42%) since yesterday (opening today near 0.6415487716), marking the 3rd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 5th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, the current price of NZDCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 9.8 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone up 7 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The Swiss Franc’s technical stance against the New Zealand Dollar and Japanese Yen has brightened, with the technical outlook in NZD/CHF and CHF/JPY primed to benefit CHF.