NZD/CAD Down 30 Pips in Last Hour, Crosses 100 Day Moving Average; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 7, 2022 1:41 GMT)

Currently, NZDCAD’s rate is down -30 pips (-0.38%) 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 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 entered today at 0.79803238, up 48 pips (0.61%) from the day prior. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 14th in terms of percentage change since the day prior. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCAD crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.