Hourly Update

(Last Updated October 27, 2022 1:43 GMT)

Currently, NZDCHF’s rate is up 7 Pips (0.13%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the Trend on the hourly timeframe, we see the clearest trend on the 20 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 30 pips (0.53%) since the previous day (opening today near 0.5753268), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 13th in terms of percentage change since the previous day. The price chart of NZDCHF below illustrates.

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20 and 50 day averages, located at 0.5636 and 0.576 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone up 8 them.

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. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDCHF we think now time to sell nzd ……………………………………………………………………

The post NZD/CHF Up 7 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days appeared first on CFDTrading.