(Last Updated September 3, 2021 2:20 GMT)
At the time of this writing, NZDCHF’s rate is up 3 pips (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see an uptrend 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 up 32 pips (0.49%) since yesterday (opening today near 0.650019528), marking the 10th straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 3rd for the day in terms of price change. Below is a price chart of NZDCHF.
NZDCHF Technical Analysis
The first thing we should note is that NZDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 10 out of the past 10 days.