NZD/CAD 4 Hour Price Update
Updated June 30, 2020 09:12 PM GMT (05:12 PM EST)
The choppiness in the recent four-hour candle price action of NZD/CAD continues; to start the current 4 hour candle, it came in at a price of 0.8757, down 15 pips (0.17%) since the last 4 hour candle. Compared to its peers in the Forex, NZD/CAD gave its buyers a return that ranked 31st in terms of percentage change since the last 4 hour candle.
NZD/CAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of NZD/CAD continues; to start today, it came in at a price of 0.877965854, up 11 pips (0.12%) since the previous day. Out of the 40 instruments in the Forex asset class, NZD/CAD ended up ranking 12th for the day in terms of price change. Below is a price chart of NZD/CAD.
NZD/CAD Technical Analysis
Notably, NZD/CAD is now close to its 20 and 50 day averages, located at 0.876 and 0.8624 respectively, and thus may be at a key juncture along those timeframes. 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/CAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZD/CAD’s price has gone up 9 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDCAD, with 5 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 0.71, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel, divergence and relative strength index technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Price moved out of the ascending channel and made a retest,pricenow seems to be going to the