NZDCHF Up 1 Pips Over Past Hour, Crosses 50 Day Moving Average; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated April 30, 2021 4:23 GMT)

At the moment, NZDCHF’s rate is up 1 pips (0.01%) 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 20 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 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 0.65862517, down 19 pips 0.28% from the day prior. Relative to other instruments in the Forex asset class, NZDCHF ranked 33rd the day prior in terms of percentage price change. Here 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 20 day average, which is 17.2 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone up 15 them.