NZD/CHF 4 Hour Price Update
Updated August 08, 2020 09:23 AM GMT (05:23 AM EST)
NZD/CHF is down 8 pips (0.13%) since the previous 4 hours (opening the current 4 hour candle near 0.6017), marking the 6th candle in a row a decline has happened. Out of the 37 instruments in the Forex asset class, NZD/CHF ended up ranking 32nd for the four-hour candle in terms of price change.
NZD/CHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for NZD/CHF, which started today off at 0.60825, up 44 pips 0.74% from yesterday. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 6th in terms of percentage change since yesterday. The price chart of NZD/CHF below illustrates.
NZD/CHF Technical Analysis
The first thing we should note is that NZD/CHF is now close to its 20, 50, 100 and 200 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 44.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 6 out of the past 10 days.
The View From Around the Web
Not much commentary on NZDCHF that we’re finding noteworthy here; guess people aren’t watching this one :). As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
On remarque qu’il y’a une cassure de la résistance baissière en H4 mais il y’a un retest de la résistance….Avec le retracement de fibonacci on remarque que la correction dépasse le 0.5. Cependant si la bougie cloture en dessous de 0.618 et qu’il y’a une autre bougie baissière or il y’a de fortes chances que la tendance baissière continueSi il y’a un rebond du prix or une nouvelle tendance apparaîtraC’est ma première analyse j’espère avoir des retoursBon weekend à tous