NZDCHF Down 0 Pips Over Past Hour, Makes Big Move Relative to Past Month; Came Into Today Up For the 2nd Consecutive Day

Hourly Update

(Last Updated July 22, 2021 3:21 GMT)

At the time of this writing, NZDCHF’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDCHF. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. 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)

NZDCHF is up 16 pips (0.25%) since the previous day (opening today near 0.638835012), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 15th in terms of percentage change since the previous day. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 35.3 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone up 16 them.