NZD/CHF Up 73 Pips, in a Downtrend Over Past 30 Days; is Inching Close to 20 Day Average

NZD/CHF Price Recap

NZD/CHF is up 73 pips (1.18%) since yesterday (with its current price near 0.63205), marking the 2nd day in a row an upward move has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 6.58% from the day prior, but down 11.91% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 2nd for the day in terms of day-over-day price change. Below is a price chart of NZD/CHF.

NZD/CHF Technical Analysis

The first thing we should note is that 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 20 day average, which is 6.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days NZD/CHF’s price has gone up 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCHF, with 3 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0.38, which is bearish. As for the rationale, technical traders seem to be citing the appearance of fibonacci 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.

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