NZD/CHF Up 3 Pips in Last Hour, Makes Big Move Relative to Past Three Months; Price Base in Formation Over Past 90 Days

Hourly Update

(Last Updated June 17, 2022 1:42 GMT)

Currently, NZDCHF’s rate is up 3 pips (0.05%) 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. 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)

NZDCHF entered today at 0.61495092, down 97 pips (1.56%) from the previous day. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 34th in terms of percentage change since the previous day. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20, 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 20 day average, which is 101.2 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone down 6 them.