(Last Updated September 2, 2021 3:20 GMT)
At the moment, NZDCHF’s rate is up 1 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 up 18 pips (0.27%) since yesterday (opening today near 0.6468206468), marking the 9th consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDCHF ranked 14th yesterday in terms of percentage price change. Below is a price chart of NZDCHF.
NZDCHF Technical Analysis
Notably, NZDCHF crossed above its 100 and 200 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 9 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.