(Last Updated September 17, 2021 1:21 GMT)
At the time of this writing, NZDCAD’s rate is down -3 pips (-0.03%) 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 50 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 0.8997810964, down 7 pips 0.07% from the previous day. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 18th in terms of percentage change since the previous day. Let’s take a look at price chart of NZDCAD.
NZDCAD Technical Analysis
The first thing we should note is that NZDCAD is now close to its 20, 50 and 200 day averages, located at 0.8893, 0.8819 and 0.8915 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 82.8 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.