NZD/CHF Down 12 Pips On 4 Hour Chart, Entered Today Down For the 3rd Day In A Row; Eyes 200 Day Average

NZD/CHF 4 Hour Price Update

Updated July 30, 2020 01:11 AM GMT (09:11 PM EST)

The back and forth price flow continues for NZD/CHF, which started the current 4 hour candle off at 0.6071, down 12 pips 0.2% from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, NZD/CHF ended up ranking 36th 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 8 pips (0.14%) since the previous day (opening today near 0.6076559359), marking the 3rd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 38th for the day in terms of price change. Below is a price chart of NZD/CHF.

NZD/CHF

NZD/CHF Technical Analysis

Notably, 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 25.1 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days NZD/CHF’s price has gone up 17 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 4 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

#NZDCHF (Update)Ascending Channel Broke Downside 📉Sell it, Expecting 80-110 PIPs Bearish Wave..!! Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!!Thanks for Your Love & Support..!!