NZD/CHF Up 8 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Straight Day

Hourly Update

(Last Updated May 2, 2022 1:42 GMT)

At the time of this writing, NZDCHF’s rate is up 8 pips (0.12%) from the hour prior. The hourly chart shows that NZDCHF has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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 down 25 pips (0.4%) since the day prior (opening today near 0.6283041812), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, NZDCHF ranked 27th the day prior in terms of percentage price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Notably, 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 100 day average, which is 5.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 20 them.

The View From Around the Web

Not much commentary on NZDCHF that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Two scenarios show how we can look for buying opportunities in this pair. Firstly, by looking at patterns within patterns, i can laterally take advantage of that pattern within the structure and look for buying opportunity on the third touch.