NZDCAD Up 4 Pips in Last Hour, Makes Big Move Relative to Past Two Months; Breaks Below 50 Day Average

Hourly Update

(Last Updated February 17, 2021 23:22 GMT)

At the time of this writing, NZDCAD’s rate is up 4 pips (0.04%) from the hour prior. The hourly chart shows that NZDCAD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCAD is down 6 pips (0.07%) since the previous day (opening today near 0.9135113091), marking the 3rd day in a row a decline has happened. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 29th in terms of percentage change since the previous day. Here is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCAD crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days NZDCAD’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.