NZDCHF Up 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated September 30, 2021 2:20 GMT)

At the time of this writing, NZDCHF’s rate is up 1 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 pin bar 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 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 0.6480650624, down 56 pips 0.85% from yesterday. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 36th for the day in terms of price change. Here is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF crossed below its 20 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 3 pips away. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 19 out of the past 30 days. Moreover, we’re also seeing a bearish engulfing pattern; in light of the uptrend on the 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.