NZDCHF Up 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; 6 Day Down Streak Ended

Hourly Update

(Last Updated November 5, 2021 23:28 GMT)

Currently, NZDCHF’s rate is up 1 pips (0.02%) from the hour prior. This is the 2nd consecutive hour NZDCHF has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 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 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, which opened today priced near 0.6536145312, is up 19 pips 0.28% since yesterday, marking a reversal from the day prior — and the end of a 6 day negative run. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 15th for the day in terms of price change. Below is a price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

First things first: NZDCHF crossed above its 20 day moving average yesterday. 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 20 day average, which is 8.1 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone down 8 them.