(Last Updated October 16, 2020 3:20 GMT)
At the time of this writing, NZDCHF’s rate is up 7 pips (0.12%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
The choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.60295, down 49 pips (0.8%) since the previous day. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 36th in terms of percentage change since the previous day. The price chart of NZDCHF below illustrates.
NZDCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed below its 20, 50 and 200 day moving averages yesterday. 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 17.6 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone down 8 them.