NZDCAD Up 5 Pips On Hourly Chart, Moves Down For the 5th Day In A Row; Nears 200 Day Moving Average

Hourly Update

(Last Updated October 9, 2020 2:19 GMT)

At the time of this writing, NZDCAD’s rate is up 5 pips (0.06%) from the hour prior. This is the 2nd straight hour NZDCAD has seen its price head up. 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCAD is down 44 pips (0.51%) since the previous day (opening today near 0.86688), marking the 5th day in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, NZDCAD ended up ranking 39th for the day in terms of price change. Here is a price chart of NZDCAD.


NZDCAD Technical Analysis

Notably, NZDCAD is now close to its 20, 50, 100 and 200 day averages, located at 0.8802, 0.8771, 0.8776 and 0.8635 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 33.3 pips away. Or to simplify this another way, note that out of the past 10 days NZDCAD’s price has gone down 6 them.