NZD/CHF Up 10 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; 2 Day Up Streak Broken

Hourly Update

(Last Updated July 12, 2022 1:42 GMT)

Currently, NZDCHF’s rate is up 10 pips (0.17%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCHF has now gone up 4 of the past 5 hours. 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 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)

The choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.6005519, down 39 pips (0.65%) since the day prior. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 27th for the day in terms of price change. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20 day averages, located at 0.6045 respectively, and thus may be at a key juncture along those timeframes. Volatility for NZDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 17 them.