NZD/CHF Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

NZD/CHF Price Recap

NZD/CHF is down 132 pips (2.25%) since yesterday (with its current price near 0.5747), marking the 2nd day in a row a decline has happened. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 73.54% from the day prior, and up 42.15% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 34th for the day in terms of day-over-day price change. Below is a price chart of NZD/CHF.

NZD/CHF Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days NZD/CHF’s price has gone down 8 them.

A final note on correlations: over the past 7 days, NZD/CHF has been most correlated with NZD/JPY — not terribly surprising, given that NZD is in both currency pairs. As for pairs with the least correlation, that belongs to EUR/USD over the past 7 days, but GBP/USD over a two week period.