NZD/CHF Up 5 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; 3 Day Down Streak Snapped

Hourly Update

(Last Updated December 30, 2021 1:44 GMT)

Currently, NZDCHF’s rate is up 5 pips (0.08%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 an uptrend 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 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)

After 3 down days, NZDCHF snaps its streak, rising 10 pips (0.17%) over the past day to close at an exchange rate of 0.6250403379. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 16th for the day in terms of price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed above its 20 day moving average yesterday. Volatility for NZDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.