NZD/CHF Up 6 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Crosses 20 Day Moving Average

Hourly Update

(Last Updated July 29, 2022 1:43 GMT)

At the time of this writing, NZDCHF’s rate is up 6 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 0.60047372, down 4 pips 0.07% from the previous day. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 12th for the day in terms of price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed below 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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 3 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

FX:NZDCHF Trading Forex and other financial products with leverage is highly risky and can result in substantial losses. Trading in the market may not be suitable for everyone. You need to be aware of all the risks and seek the help of independent financial advisors if you have any questions or doubts.