(Last Updated July 15, 2021 1:21 GMT)
At the moment, NZDCHF’s rate is down -1 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 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 12 pips (0.19%) since the previous day (opening today near 0.6381098964), marking the 2nd consecutive day a decline has happened. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 24th in terms of percentage change since the previous day. The price chart of NZDCHF below illustrates.
NZDCHF Technical Analysis
Notably, NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6445, 0.6474, 0.6538 and 0.6413 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 200 day average, which is 31.9 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 9 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.