NZD/CHF Up 0 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Entered Today Down For the 2nd Consecutive Day

Hourly Update

(Last Updated May 11, 2022 1:47 GMT)

Currently, NZDCHF’s rate is up 0 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 16 pips (0.25%) since the previous day (opening today near 0.62645884), marking the 2nd consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 28th for the day in terms of 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 100 day average, which is 18.2 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 9 out of the past 14 days.