NZD/CHF Up 5 Pips On 4 Hour Chart, Entered Today Up For the 3rd Day In A Row; Eyes 20 Day Average

NZD/CHF 4 Hour Price Update

Updated July 21, 2020 09:09 AM GMT (05:09 AM EST)

NZD/CHF entered the current 4 hour candle at 0.6172, up 5 pips (0.08%) from the previous 4 hours. Relative to other instruments in the Forex asset class, NZD/CHF ranked 13th the previous 4 hours in terms of percentage price change.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/CHF is up 5 pips (0.07%) since the previous day (opening today near 0.6178581504), marking the 3rd day in a row an upward move has occurred. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 11th in terms of percentage change since the previous day. The price chart of NZD/CHF below illustrates.

NZD/CHF Technical Analysis

Coming into today the current price of NZD/CHF is sitting close to its 20, 50 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 20 day average, which is 19.4 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 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days NZD/CHF’s price has gone up 18 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCHF, with 8 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1.14, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

CHF – BEARISH1️⃣ A positive mood around the global equity markets failed to impress bulls or lend any support….📊 NZDCHF in bullish zone + buy momentum candlestick in that zone….=====RISK TO THIS TRADE=====⚠️ This trade will hit stop loss if market sentiment turns to risk-ON mode.