(Last Updated January 6, 2021 2:22 GMT)
At the moment, NZDCHF’s rate is down -1 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 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, which opened today priced near 0.63205, is down 44 pips 0.69% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, NZDCHF ranked 35th the previous day in terms of percentage price change. Below is a price chart of NZDCHF.
NZDCHF Technical Analysis
Coming into today 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. For additional context, note that price has gone up 5 out of the past 10 days.