NZD/CHF Up 2 Pips in Last 4 Hours, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days

NZD/CHF 4 Hour Price Update

Updated June 19, 2020 09:22 AM GMT (05:22 AM EST)

NZD/CHF entered the current 4 hour candle at 0.6104, up 2 pips (0.03%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, NZD/CHF ended up ranking 10th for the four-hour candle in terms of price change.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 down days, NZD/CHF snaps its streak, rising 6 pips (0.11%) over the past day to close at an exchange rate of 0.6122486968. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 10th in terms of percentage change since the day prior. Here is a price chart of NZD/CHF.

NZD/CHF Technical Analysis

The first thing we should note is that the current price of NZD/CHF is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 6.1 pips away. 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 up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 14 days NZD/CHF’s price has gone up 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCHF, with 2 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0.22, which is bearish. 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.

Looking to short NZDCHFWe have a head and shoulders retest on the larger timeframes. SL above .61800TPs at fib levelsFinal TP at .59800