NZDCHF Up 5 Pips On Hourly Chart, Fares the Worst Out of Forex; Makes Big Move Relative to Past Two Months – CFDTrading

Hourly Update

(Last Updated July 9, 2021 23:20 GMT)

Currently, NZDCHF’s rate is up 5 pips (0.07%) from the hour prior. NZDCHF has seen its price go up 12 out of the past 14 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see an uptrend on the 20, 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 132 pips (2.03%) since yesterday (opening today near 0.635975912), marking the 3rd straight day it has gone down. On a relative basis, NZDCHF was the worst performer out of all 39 of the assets in the Forex asset class. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed below its 20, 50 and 200 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 48.9 pips away. It should be noted, though, the 20 and 100 day simple moving averages turned downwards, which may be a bearish sign. 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 up 7 out of the past 14 days.

The View From Around the Web

Not much commentary on NZDCHF that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDCHF Has to go down correction more downside

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