NZD/CHF Down 6 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Entered Today Down For the 2nd Consecutive Day

Hourly Update

(Last Updated September 22, 2021 1:53 GMT)

At the time of this writing, NZDCHF’s rate is down -6 pips (-0.1%) 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 40 pips (0.62%) since yesterday (opening today near 0.6462734256), marking the 2nd consecutive day a decline has happened. Relative to other instruments in the Forex asset class, NZDCHF ranked 38th yesterday in terms of percentage price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed below its 20 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 11.8 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 and 90 day periods 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 up 18 out of the past 30 days.