(Last Updated October 19, 2020 10:19 GMT)
Currently, NZDCHF’s rate is down -2 pips (-0.03%) from the hour prior. This is the 2nd hour in a row NZDCHF has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)
NZDCHF entered today at 0.60385, up 9 pips (0.15%) from the day prior. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 8th in terms of percentage change since the day prior. The price chart of NZDCHF below illustrates.
NZDCHF Technical Analysis
Coming into today the current price of NZDCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 6.5 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days.