NZD/CAD Down 3 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; 3 Day Down Streak Ended

Hourly Update

(Last Updated June 3, 2022 1:43 GMT)

At the moment, NZDCAD’s rate is down -3 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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, which opened today priced near 0.8247991785, is up 43 pips 0.52% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 14th for the day in terms of price change. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Notably, NZDCAD crossed above its 20 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 6 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 1 sell signals and 2 buy signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Will Only execute if i get the bull back.NEXT W TRADESNEXT W TRADESNEXT W TRADES