(Last Updated June 7, 2021 17:23 GMT)
At the moment, NZDCHF’s rate is up 2 pips (0.03%) 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 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 200 and 50 hour changed directions on NZDCHF; they are now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
A moment of silence, please, for the end of NZDCHF’s 3 day down streak; price ended yesterday up 19 pips (0.3%) to finish the day at a rate of 0.647881817. Relative to other instruments in the Forex asset class, NZDCHF ranked 7th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
Coming into today NZDCHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6503, 0.6543, 0.6537 and 0.6366 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 23.7 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 14 days NZDCHF’s price has gone down 9 them.
The View From Around the Web
Not much commentary on NZDCHF that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
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