NZDCHF Up 2 Pips in Last Hour, Breaks Below 50 Day Average; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated April 8, 2021 3:22 GMT)

Currently, NZDCHF’s rate is up 2 pips (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 200 hour changed directions on NZDCHF; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 down 55 pips (0.83%) since the previous day (opening today near 0.6515954901), marking the 2nd consecutive day it has gone down. It may be worth observing that NZDCHF was the worst performer of the 39 members in the Forex asset class over the past day. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days NZDCHF’s price has gone up 6 them.