NZD/CHF Up 6 Pips Over Past 4 Hours, Makes Big Move Relative to Past Month; Entered Today Down For the 2nd Day In A Row

NZD/CHF 4 Hour Price Update

Updated July 29, 2020 01:16 AM GMT (09:16 PM EST)

NZD/CHF is up 6 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 0.6112), marking the 3rd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, NZD/CHF ranked 5th the last 4 hour candle in terms of percentage price change.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/CHF is down 2 pips (0.04%) since the day prior (opening today near 0.61110453), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 34th in terms of percentage change since the day prior. Here is a price chart of NZD/CHF.

NZD/CHF

NZD/CHF Technical Analysis

Coming into today the current price of NZD/CHF is sitting close to its 20, 50, 100 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 200 day average, which is 7.4 pips away. 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. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCHF, with 4 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.36, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Please Support this Idea with LIKE if it is Useful…….NZDCHF The price is below Support/resistance level and broken below trendline support,after a pullback If price shows rejection from the level I expect the price to continue lower,wait for the price to make a pullback if price gives any bearish signal then look for sell opportunity……In case, if price breaks above the support/resistance then we have to wait for a clear direction..