NZD/CHF Price Recap
The back and forth price flow continues for NZD/CHF, which starts today off at 0.63046 US dollars, down 16 pips 0.25% from the previous day. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 3.39% from the day prior, and up 5.43% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 27th for the day in terms of day-over-day price change. Below is a price chart of NZD/CHF.
NZD/CHF Technical Analysis
Notably, NZD/CHF is now close to its 20, 50, 100 and 200 day averages, located at 0.6322, 0.641, 0.6364 and 0.6413 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 17.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days NZD/CHF’s price has gone down 8 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on NZDCHF, with 2 buy signals on our radar and 16 sell signals. This imputes a buy/sell ratio of 0.12, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Please support this idea with LIKE if you find it useful….-Please consider to initiate a position on a confirmed breakout of horizontal resistance….Thank you for reading this idea!