NZDCHF Up 6 Pips in Last Hour, in an Uptrend Over Past 14 Days; Bearish Engulfing Pattern Present

Hourly Update

(Last Updated February 11, 2021 1:27 GMT)

At the time of this writing, NZDCHF’s rate is up 6 pips (0.09%) from the hour prior. This is the 2nd hour in a row NZDCHF has seen its price head up. Regarding the trend, note that the strongest trend exists 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 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 0.6463335032, down 28 pips 0.44% from yesterday. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 33rd in terms of percentage change since yesterday. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, the current price of NZDCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days. We’re also seeing a bearish engulfing pattern form over the past two candles, which suggests the uptrend on the 14, 90 and 30 day