NZDCHF Down 2 Pips in Last Hour, Entered Today Down For the 3rd Consecutive Day; Nears 100 and 200 Day Moving Averages

Hourly Update

(Last Updated November 12, 2021 5:20 GMT)

At the moment, NZDCHF’s rate is down -2 pips (-0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 13 pips (0.21%) since yesterday (opening today near 0.6471088456), marking the 3rd consecutive day it has gone down. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Coming into today NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6542, 0.651, 0.6457 and 0.65 respectively, and thus may be at a key juncture along those timeframes. 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 13.7 pips away. It should be noted, though, the 20, 50 and 100 day simple moving averages turned downwards, which may be a bearish sign. The clearest trend exists on the 14 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. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 16 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.