NZD/CHF Down 47 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

NZD/CHF 4 Hour Price Update

Updated March 25, 2020 01:39 PM GMT (09:39 AM EST)

NZD/CHF, which opened the current 4 hour candle priced near 0.5717, is down 47 pips 0.82% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 5 four-hour candle positive run. On a relative basis, NZD/CHF was the worst performer out of all 40 of the assets in the Forex asset class.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of NZD/CHF continues; to start today, it came in at a price of 0.5712234, down 3 pips (0.05%) since the day prior. Relative to other instruments in the Forex asset class, NZD/CHF ranked 28th the day prior in terms of percentage price change. Below is a 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 0.5781 respectively, and thus may be at a key juncture along those timeframes. Volatility for NZD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 20 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCHF, with 7 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 1.75, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

i see a parallel channel on NZDCHF 1 hour time frame. price is currently intersecting the upper trend line of the channel . wait for bearish 1 candlestick pattern for confirmation then enter a short trade .