NZD/CHF Down 5 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Came Into Today Down For the 3rd Day In A Row

NZD/CHF 4 Hour Price Update

Updated June 25, 2020 01:15 PM GMT (09:15 AM EST)

NZD/CHF entered the current 4 hour candle at 0.6089, down 5 pips (0.08%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, NZD/CHF ended up ranking 26th 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 3 pips (0.05%) since the day prior (opening today near 0.6071198988), marking the 3rd day in a row a decline has happened. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 28th 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 NZD/CHF is now close to its 20, 50 and 200 day averages, located at 0.6149, 0.6006 and 0.6137 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 64.7 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. 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 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZD/CHF’s price has gone down 7 them. 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

Of note is that traders in aggregate have opinions on NZDCHF, with 5 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.67, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

NZDCHF rebounded from major uptrendline with bullish movementPair is based above demand zone at level 0.6040Price broke corrective downtrendlineMACD shows start of bullish momentumRSI rebounded from oversold regionIt’s expected for the continuation of bullish momentum to first target key level at 0.6170then finally target supply zone at level 0.6300