Hourly Update

(Last Updated September 8, 2022 1:42 GMT)

At the moment, NZDCHF’s rate is down -8 pips (-0.13%) from the hour prior. The Hourly Chart shows that Nzdchf has seen 2 straight down hours. Regarding the trend, note that the strongest trend 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 down 14 pips (0.24%) since the previous day (opening today near 0.59280936), marking the 3rd consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 32nd for the day in terms of price change. Below 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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much commentary on NZDCHF that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.Here is a detailed update top-down analysis for NZDCHF .Which scenario do you think is more likely to happen? and Why?Always follow your trading plan regarding entry, risk management, and trade management.Good Luck!.All Strategies Are Good; If Managed Properly!~Rich

The post NZD/CHF Down 8 Pips On Hourly Chart, Came Into Today Down For the 3rd Consecutive Day; Price Base in Formation Over Past 14 Days appeared first on CFDTrading.