NZDCHF Down 4 Pips Over Past Hour, Entered Today Up For the 2nd Consecutive Day; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated January 7, 2021 2:21 GMT)

At the moment, NZDCHF’s rate is down -4 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCHF is up 37 pips (0.58%) since yesterday (opening today near 0.6398), marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, NZDCHF ranked 7th yesterday in terms of percentage price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

Coming into today NZDCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 14 days NZDCHF’s price has gone up 9 them.