NZD/CAD Down 3 Pips in Last Hour, in an Uptrend Over Past 30 Days; Nears 200 Day Moving Average

Hourly Update

(Last Updated November 23, 2022 2:27 GMT)

At the time of this writing, NZDCAD’s rate is down -3 pips (-0.03%) from the hour prior. NZDCAD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. 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)

The back and forth price flow continues for NZDCAD, which started today off at 0.82135875, up 16 pips 0.2% from yesterday. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 9th in terms of percentage change since yesterday. Here is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Coming into today NZDCAD is now close to its 20 and 200 day averages, located at 0.8042 and 0.8183 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 30.3 pips away. 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. For additional context, note that price has gone up 20 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.