NZD/CHF Up 3 Pips Over Past Hour, Makes Big Move Relative to Past Two Months; Entered Today Down For the 6th Consecutive Day

Hourly Update

(Last Updated September 13, 2022 1:44 GMT)

At the moment, NZDCHF’s rate is up 3 pips (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCHF has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 is down 17 pips (0.28%) since the day prior (opening today near 0.58512896), marking the 6th consecutive day it has gone down. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 32nd in terms of percentage change since the day prior. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Coming into today NZDCHF is now close to its 20 and 50 day averages, located at 0.5952 and 0.599 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

we are looking for a nice move to the downside, structure is still being maintained to downside, monday open retraced to last week resistance level or point of control. nice risk to rewardfollow me for more break down!