NZD/CHF Up 1 Pips, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart

NZD/CHF Price Recap

NZD/CHF enters today at 0.62792 in US dollars, up 1 pips (0.02%) from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 7.42% from the day before — and down 30.6% from the same day the week before. Relative to other instruments in the Forex asset class, NZD/CHF ranked 23rd yesterday in terms of percentage price change. Let’s take a look at price chart of NZD/CHF.

NZD/CHF Technical Analysis

Coming into today 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 24 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 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 17 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.