(Last Updated May 28, 2021 1:23 GMT)
Currently, NZDCHF’s rate is down -4 pips (-0.06%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning below it. 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 0.6532162165, up 62 pips (0.96%) since yesterday. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Here is a price chart of NZDCHF.
NZDCHF Technical Analysis
First things first: NZDCHF crossed above its 20 and 100 day moving averages 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 100 day average, which is 2.6 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 18 them.