NZDCHF Down 5 Pips Over Past Hour, Moves Down For the 2nd Straight Day; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated November 11, 2021 3:21 GMT)

At the moment, NZDCHF’s rate is down -5 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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 7 pips (0.1%) since the day prior (opening today near 0.64843988), marking the 2nd straight day a decrease has occurred. Relative to other instruments in the Forex asset class, NZDCHF ranked 23rd the day prior in terms of percentage price change. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 15.6 pips away. It should be noted, though, the 200 day simple moving average 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 30 and 90 day timeframes, where price is headed up. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone down 10 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCHF, with 2 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

https://www.tradingview.com/x/J253AIYV/ Hello,Friends! Based on the technical analysisAnd the recent minor fundamental news NZDCHF looks bearish to me overall.I think that market-makers will be pushing the pair downThat is why we are going short! Like and subscribe and comment my ideas if you enjoy them!