NZD/CAD Down 3 Pips On Hourly Chart, 3 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 20, 2022 1:47 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 4 out of the past 5 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)

NZDCAD, which opened today priced near 0.848705091, is up 20 pips 0.24% since the previous day, 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 9th for the day in terms of price change. Below is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Coming into today the current price of NZDCAD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days NZDCAD’s price has gone down 6 them.