NZD/CHF Down 34 Pips; is Inching Close to 20 Day Average

NZD/CHF Price Recap

NZD/CHF is down 34 pips (0.54%) since yesterday (with its current price near 0.6278), marking the 2nd day in a row a decline has happened. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 60.15% from the day prior, but down 22.34% from the same day the week before. Relative to other instruments in the Forex asset class, NZD/CHF ranked 37th yesterday in terms of percentage 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, 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 30.1 pips away. Volatility for NZD/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCHF, with 4 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0.44, which is bearish. As for the rationale, technical traders seem to be citing the appearance of flag, gartley and relative strength index technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.