NZDCAD Down 7 Pips in Last Hour, Entered Today Up For the 4th Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 6, 2021 22:21 GMT)

At the time of this writing, NZDCAD’s rate is down -7 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists 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)

NZDCAD is up 41 pips (0.46%) since the day prior (opening today near 0.8964482256), marking the 4th straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 7th for the day in terms of price change. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Notably, NZDCAD is now close to its 20, 50, 100 and 200 day averages, located at 0.8809, 0.8772, 0.877 and 0.8919 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 200 day average, which is 45.5 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZDCAD’s price has gone up 8 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCAD, with 4 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

price has reached its low order block now to retest the 61.8 zone, using the impulse correction impulse strat and last tp will be at the yellow horizontal ray.