(Last Updated July 20, 2021 2:15 GMT)
Currently, NZDCAD’s rate is down -3 pips (-0.03%) from the hour prior. This is the 3rd consecutive hour NZDCAD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)
NZDCAD is up 8 pips (0.1%) since the previous day (opening today near 0.8840286213), marking the 4th straight day an increase has occurred. Relative to other instruments in the Forex asset class, NZDCAD ranked 17th the previous day in terms of percentage price change. The price chart of NZDCAD below illustrates.
NZDCAD Technical Analysis
Notably, NZDCAD is now close to its 20, 50, 100 and 200 day averages, located at 0.872, 0.8714, 0.8816 and 0.8933 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 100 day average, which is 24.6 pips away. 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. Or to simplify this another way, note that out of the past 10 days NZDCAD’s price has gone up 7 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.