NZDCHF Down 6 Pips Over Past Hour; Breaks Below 50 and 200 Day Averages

Hourly Update

(Last Updated October 13, 2020 2:19 GMT)

At the time of this writing, NZDCHF’s rate is down -6 pips (-0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 50 hour changed directions on NZDCHF; it is 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)

The back and forth price flow continues for NZDCHF, which started today off at 0.6041, down 25 pips 0.4% from yesterday. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 32nd in terms of percentage change since yesterday. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF crossed below its 50 and 200 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 50 day average, which is 11 pips away. It should be noted, though, the 20 and 50 day simple moving averages turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone up 15 them.