(Last Updated April 2, 2021 23:21 GMT)
Currently, NZDCHF’s rate is up 7 pips (0.1%) from the hour prior. NZDCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 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 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 24 pips (0.37%) since the day prior (opening today near 0.6615333732), marking the 4th straight day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDCHF ranked 7th the day prior in terms of percentage price change. Let’s take a look at price chart of NZDCHF.
NZDCHF Technical Analysis
The first thing we should note is that 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.