NZD/CHF Up 10 Pips On Hourly Chart, Entered Today Up For the 4th Consecutive Day; in an Uptrend Over Past 30 Days
The closest is the 200 day average, which is 44.6 pips away.
NZDCHF
(Last Updated September 18, 2020)
Welcome to the news page for NZDCHF (NZDCHF). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
Perhaps the most noteworthy trend we’re seeing on NZDCHF is at the 30 day level, where a clear uptrend is apparent.
NZDCHF Moving Averages
The moving averages on NZDCHF summarize its price action in an interesting way. The 20 and 100 day averages suggest a bullish trend, as they are pointing upwards, while the 50 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes.
The chart below illustrates.
As for assets in the Forex asset class NZDCHF has been correlated to over the past week, it has demonstrated the strongest correlation with EURNZD. EURNZD is the asset with which NZDCHF has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. Alternatively, the asset least correlated with NZDCHF over the past week has been EURUSD, but over the past two weeks, the asset least correlated with NZDCHF has been USDMXN. See the chart below to observe the recent price action in NZDCHF versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the moment, NZDCHF’s rate is up 0.0079 (1.31%) from the week prior. NZDCHF has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows NZDCHF’s price action over the past year.
NZDCHF Down 0 Pips On Hourly Chart, Moves Up For the 4th Consecutive Day; Price Base in Formation Over Past 90 Days
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
NZDCHF Up 2 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; Crosses 200 Day Moving Average
Relative to other instruments in the forex asset class, nzdchf ranked 9th the day prior in terms of percentage price change.
NZDCHF Up 3 Pips in Last Hour, Crosses 200 Day Moving Average; Price Base in Formation Over Past 90 Days
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
NZDCHF Down 0 Pips in Last Hour, is Inching Close to 20, 50 and 100 Day Averages; Pin Bar Pattern Appearing on Chart
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.
NZDCHF Down 3 Pips in Last Hour, Eyes 20, 50 and 100 Day Averages; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern.
NZDCHF Down 4 Pips On Hourly Chart, 2 Day Down Streak Ended; Crosses 50 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
NZDCHF Down 9 Pips Over Past Hour, 2 Day Down Streak Snapped; Crosses 50 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
NZDCHF Up 3 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Eyes 200 Day Average
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDCHF Down 0 Pips On Hourly Chart, Crosses 200 Day Moving Average; in an Uptrend Over Past 14 Days
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.