(Last Updated February 19, 2021 0:23 GMT)
At the moment, NZDCHF’s rate is up 8 pips (0.13%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCHF has now gone up 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. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning 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)
NZDCHF entered today at 0.6460233087, up 37 pips (0.58%) from yesterday. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Here is a price chart of NZDCHF.
NZDCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 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 up 15 out of the past 30 days.