(Last Updated November 11, 2020 0:19 GMT)
At the moment, NZDCHF’s rate is up 9 pips (0.14%) 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. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
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 0.6219, up 125 pips (2.06%) since the day prior. Out of the 40 instruments in the Forex asset class, NZDCHF ended up ranking 7th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
The first thing we should note is that NZDCHF is now close to its 50 and 100 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 100 day average, which is 138.7 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 10 out of the past 14 days.