NZD/CAD Down 10 Pips Over Past Hour, Breaks Below 20 Day Average; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated June 22, 2022 1:44 GMT)

At the moment, NZDCAD’s rate is down -10 pips (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCAD has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for NZDCAD, which started today off at 0.81764351, down 44 pips 0.54% from the day prior. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 37th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Notably, NZDCAD crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.