NZD/CHF Down 5 Pips Over Past Hour, Makes Big Move Relative to Past Month; Entered Today Down For the 3rd Consecutive Day

Hourly Update

(Last Updated May 12, 2022 1:42 GMT)

At the time of this writing, NZDCHF’s rate is down -5 pips (-0.08%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 8 of the past 10 hours. 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)

NZDCHF is down 12 pips (0.19%) since the day prior (opening today near 0.625289511), marking the 3rd consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 19th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6339, 0.6377, 0.6283 and 0.6358 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 100 day average, which is 29.9 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone down 9 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.