Hourly Update

(Last Updated August 17, 2022 1:42 GMT)

Currently, NZDCHF’s rate is down -2 pips (-0.03%) from the hour prior. This is the 2nd straight hour Nzdchf has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 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)

The choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.60214099, down 0 pips (0%) since the day prior. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 26th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDCHF is going Bearish the pair has provided us with a Bearish Continuation Pattern plus A Double Top tomorrow is the 17Th there are interest rates so the pair will Drop

The post NZD/CHF Down 2 Pips Over Past Hour, Makes Big Move Relative to Past Month; in a Downtrend Over Past 90 Days appeared first on CFDTrading.