(Last Updated November 20, 2020 2:20 GMT)
At the time of this writing, NZDCHF’s rate is up 2 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on NZDCHF; it is now pointing up. 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 choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.6291, down 16 pips (0.25%) since yesterday. Relative to other instruments in the Forex asset class, NZDCHF ranked 30th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
Coming into today NZDCHF is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 18 out of the past 30 days.