NZD/CHF Down 17 Pips; in a Downtrend Over Past 30 Days

NZD/CHF Price Recap

NZD/CHF is down 17 pips (0.27%) since yesterday (with its current price near 0.62385), marking the 3rd day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 3.59% from the day prior, and up 12.93% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 29th for the day in terms of day-over-day price change. Let’s take a look at price chart of NZD/CHF.

NZD/CHF Technical Analysis

Notably, NZD/CHF is now close to its 20 and 100 day moving averages, which may act as price barrier for the asset. 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 98.5 pips away. In addition to the moving average crossover, NZD/CHF may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down. Volatility for NZD/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. 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 10 days NZD/CHF’s price has gone down 6 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 3 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.33, which is 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.

Price still on downtrend with an inverted harmmar formed at the down trendline