NZD/CHF Down 6 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated November 23, 2021 1:43 GMT)

At the time of this writing, NZDCHF’s rate is down -6 pips (-0.09%) 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 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see downtrend 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 down 9 pips (0.14%) since the previous day (opening today near 0.648362172), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, NZDCHF ranked 31st the previous day in terms of percentage price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that 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 18 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Volatility for NZDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.