NZD/CHF Up 2 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated November 17, 2021 1:49 GMT)

At the moment, NZDCHF’s rate is up 2 pips (0.02%) from the hour prior. The hourly chart shows that NZDCHF has seen 2 straight up hours. 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)

The choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.6502102488, down 13 pips (0.2%) since the day prior. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 31st for the day in terms of price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed below its 50 day moving average yesterday. 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 1.8 pips away. 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. For additional context, note that price has gone up 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!