NZDCHF Technical Analysis (7th Feb.)

The NZDUSD pair remained steady on Friday, hovering around 0.5680, as traders waited for the US Nonfarm Payrolls (NFP) report. The report showed that the US added 143,000 jobs in January, missing expectations of 170,000, which could influence the Federal Reserve’s next policy move. Meanwhile, the US Dollar continued to recover, supported by rising Treasury yields, making it harder for the New Zealand Dollar (NZD) to gain strength. Investors remain cautious due to global trade uncertainties, though talks between the US and China on potential tariff rollbacks may offer some relief. Additionally, the Reserve Bank of New Zealand (RBNZ) is expected to cut interest rates on 19th Feb., which could further pressure the Kiwi Dollar.

NZDCHF – D1 Timeframe

The 100-day moving average is currently acting as resistance on the daily timeframe chart of NZDCHF while falling in alignment with the overall bearish moving average array. The rally-base drop at the tip of the recent high forms a supply zone within a pivot region, an indication of a strong price reaction zone.

NZDCHF – H4 Timeframe

The 4-hour timeframe chart of NZDCHF shows the supply zone aligning with other confluences, such as the pivot region, 88% Fibonacci retracement level, and a sweep of liquidity. Based on these confluences, concluding favorably with a bearish outcome is safe.

Analyst’s Expectations: 

Direction: Bearish

Target: 0.50857

Invalidation: 0.51880

CONCLUSION

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