NZD CHF

NZDCHF

Latest NZD CHF Analysis

New Zealand Dollar (NZD) crosses stay intermediate-term bearish

  • A spotlight in this report on the NZD cross currency rates, focusing on the New Zealand Dollar against the Japanese Yen, Swiss Franc and Canadian Dollar.
  • NZDJPY, NZDCHF and NZDCAD all stay bearish on an intermediate-term basis.

NZDJPY sitting at cycle low

Despite a small rebound on Friday after another new cycle low on Thursday, the short-term bear theme remains intact from the negative consolidation in the second half of May after he acceleration lower in early May, to keep risks lower for Monday and into month-end.

For Today:  

  • We see a downside bias for 71.50; break here aims for 71.29 and 71.00.
  • But above to 71.82 opens risk up to 71.98 and maybe 72.17.

Intermediate-term Outlook – Downside Risks: We see a downside risk for 70.00.

  • Lower targets would be 69.27 and 67.01
  • What Changes This? Above 72.78 shifts the outlook back to neutral; above 73.47 is needed for a bull theme.

Daily NZDJPY Chart

nzdjpy

NZDCHF rebound, but bear theme very much intact

A Friday rebound from a new cycle low at .6533 for a bullish outside daily pattern, BUT the very short-term bear view is undamaged whilst below resistance at .6582, to leave the bias back to the downside on Monday and into late May.

For Today:  

  • We see a downside bias for .6545; break here aims for .6533 and .6500.
  • But above .6582 opens risk up to .6605 and .6620.

Intermediate-term Outlook – Downside Risks: We see a downside risk for .6500/ 6496.

  • Lower targets would be .6273 and .6000.
  • What Changes This? Above .6641 shifts the intermediate-term outlook straight to a bull theme.

Daily NZDCHF Chart

nzdchf

NZDCAD corrective recovery stalling

A strong recovery effort from the middle of last week from the new cycle low on Wednesday at .8692, but the a somewhat negative, almost Shooting Star candlestick on Friday down from just below .8830 resistance highlights recovery exhaustion and sees the bias set to return for a push lower into Monday and month-end.

For Today:  

  • We see a downside bias for .8778; break here aims for .8755 and .8718.
  • But above .8825/30 opens risk up to .8853, maybe towards key .8894.

Intermediate-term Outlook – Downside Risks: We see a downside risk for .8691.

  • Lower targets would be .8500 and .8172
  • What Changes This? Above .8894 shifts the intermediate-term outlook straight to a bull theme.

Daily NZDCAD Chart

nzdcad

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Other major currency pairs


BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.


NZD/CHF – Live and Historical Rates

This pair features a major currency (the Swiss Franc) coupled up with a non-major, the New Zealand Dollar. The pair itself is neither a major, nor a commodity one. The chart featured above shows the amount of CHF needed to purchase a NZD.

The NZD

Not being a major and not being backed by a massive economy, the NZD is heavily influenced by the evolution of a number of national economies with which the country has close trading ties. In this regard, the economies of Japan, the US and Australia have to be singled out. The NZD was introduced in 1967, replacing the New Zealand Pound. At the time, it was pegged to the USD. Since 1985, it has been floating though. Given the nature of the New Zealand economy, the NZD is most exposed to the variation of agricultural product prices as well as to commodity price-variations, to a certain degree.

The CHF

The Swiss Franc is one of the national currencies which punches well above its weight in an economic sense. Despite the small size of the country, a sturdy, financial sector-based economy and major gold reserves lend the currency a disproportional amount of strength. The Swiss economy on the whole is an engine of wealth and prosperity. Low unemployment coupled with low national deficit is a clear indication that everything is working the way it’s supposed to. In addition to being one of the strongest national currencies in the world markets, the CHF has been extremely stable as well.

NZDCHF Analysis

The geographical distance between the two countries and the radically different nature of their economies mean that there’s little to no direct trading between New Zealand and Switzerland. Nonetheless, there may be trading opportunities involving the pair: given the stability of the CHF, the volatility of the agricultural prices is one factor to watch in this regard.

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