NZD/CHF Down 6 Pips Over Past Hour, Makes Big Move Relative to Past Month; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 14, 2022 1:45 GMT)

At the time of this writing, NZDCHF’s rate is down -6 pips (-0.09%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 2 pips (0.04%) since the day prior (opening today near 0.6257577838), marking the 3rd straight day it has gone down. Relative to other instruments in the Forex asset class, NZDCHF ranked 18th the day prior in terms of percentage price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50 and 100 day averages, located at 0.6243, 0.632 and 0.6413 respectively, and thus may be at a key juncture along those timeframes. 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. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCHF, with 4 buy signals on our radar and 0 sell signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDCHF BUY NOW @ 0.62749TP 1 – 0.62999 – 25 PipsTP 2 – 0.63249 – 50 PipsTP 3 – 0.63949- 120 PipsSL – 0.62399 – 35 PIPS