NZD/CHF Down 35 Pips; in a Downtrend Over Past 90 Days

NZD/CHF Price Recap

NZD/CHF is down 35 pips (0.57%) since yesterday (with its current price near 0.61685), marking the 4th 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 down 1.17% from the day prior, but up 101.26% 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

The first thing we should note is that NZD/CHF is now close to its 20 day averages, located at 0.6267 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 98.5 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. Trend traders will want to observe that the strongest trend appears on the 14 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 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCHF, with 9 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.8, which is bullish. As for the rationale, technical traders seem to be citing the appearance of divergence and fibonacci technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

looking for longs at 0.61500 area, will be watching price action for a bounce and if it meets criteria we may consider taking a position on lower time frame for good entry pointtargeting 0.6250 fib level 0.5we also have strong support and divergence thoughts and comments most welcomelike and subscribe