NZD/CHF Up 3 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; in an Uptrend Over Past 30 Days

NZD/CHF 4 Hour Price Update

Updated June 18, 2020 09:10 AM GMT (05:10 AM EST)

After 3 down four-hour candles, NZD/CHF snaps its streak, rising 3 pips (0.05%) over the past four-hour candle to close at an exchange rate of 0.6117. Out of the 37 instruments in the Forex asset class, NZD/CHF ended up ranking 18th for the four-hour candle in terms of price change.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/CHF is down 14 pips (0.23%) since the day prior (opening today near 0.6110621043), marking the 3rd day in a row a decrease has occurred. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 37th in terms of percentage change since the day prior. The price chart of NZD/CHF below illustrates.

NZD/CHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZD/CHF crossed below its 20 day moving average yesterday. 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 10.9 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days NZD/CHF’s price has gone up 8 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCHF, with 0 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello Traders!…I am seeing the possibility of NZDCHF SELL….There is a significant level and trendline.