NZDCHF Up 3 Pips On Hourly Chart; Nears 20 Day Moving Average
This move is a reversal from the hour prior, which saw price move down.
(Last Updated February 24, 2021)
Welcome to the news page for NZDCHF (NZDCHF). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
New Zealand Interest Rate Decision | 2021 | New Zealand Dollar | NZD | 2021-02-24 | 01:00 GMT | 0.25% | 0.25% |
New Zealand RBNZ Press Conference | NA | New Zealand Dollar | NZD | 2021-02-24 | 02:00 GMT | ||
New Zealand Balance of Trade | Jan 2021 | New Zealand Dollar | NZD | 2021-02-25 | 21:45 GMT | ||
Switzerland KOF Leading Indicators | Feb 2021 | Swiss Franc | CHF | 2021-02-26 | 08:00 GMT | 96.6 | |
Switzerland GDP Growth Rate YoY | Q4 2020 | Swiss Franc | CHF | 2021-02-26 | 08:00 GMT | -2.1% |
On NZDCHF, there is currently an uptrend on the 90, 30 and 14 day timeframes.
Across several time periods between 20 and 200 days, the trend on NZDCHF has remained consistently bullish.
The chart below illustrates.
In terms of correlations over the past week for NZDCHF, it has demonstrated the strongest correlation with AUDCHF. If we zoom out to a two week basis, though, EURNZD is the asset most correlated to NZDCHF. On the flip side, the asset least correlated with NZDCHF over the past week has been EURSEK, but if we observe the prior two weeks, the asset least correlated with NZDCHF has been GBPNZD. The chart below illustrates NZDCHF against its least correlated assets.
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At the time of this writing, NZDCHF’s rate is up 103 pips (1.58%) 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. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows NZDCHF’s price action over the past year.
Clearest trend on the monthly is apparent at the 60 month timeframe.
This move is a reversal from the hour prior, which saw price move down.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
Compared to its peers in the forex, nzdchf gave its buyers a return that ranked 13th in terms of percentage change since the day prior.
For additional context, note that price has gone up 6 out of the past 10 days.
Compared to its peers in the forex, nzdchf gave its buyers a return that ranked 4th in terms of percentage change since yesterday.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
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.
For additional context, note that price has gone up 5 out of the past 10 days.