Hourly Update

(Last Updated August 9, 2022 1:42 GMT)

At the moment, NZDCHF’s rate is up 1 Pips (0.02%) from the hour prior. This is the 2nd hour in a row Nzdchf has seen its price head up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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)

The back and forth price flow continues for NZDCHF, which started today off at 0.6004085, up 20 pips 0.34% from the day prior. Relative to other instruments in the Forex asset class, NZDCHF ranked 11th the day prior in terms of percentage price change. Here is a price chart of NZDCHF.

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone down 6 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The post NZD/CHF Up 1 Pips Over Past Hour, Makes Big Move Relative to Past Month; Eyes 20 Day Average appeared first on CFDTrading.