NZD/CHF Up 4 Pips in Last Hour, Came Into Today Down For the 2nd Straight Day; is Inching Close to 20 Day Average

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Hourly Update (Last Updated March 22, 2021 1:49 GMT) Currently, NZDCHF’s rate is up 4 pips (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly…

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