(Last Updated July 16, 2021 18:20 GMT)
At the time of this writing, NZDCAD’s rate is up 8 pips (0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move 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 12 pips (0.14%) since yesterday (opening today near 0.8821693986), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, NZDCAD ranked 17th yesterday in terms of percentage price change. The price chart of NZDCAD below illustrates.
NZDCAD Technical Analysis
The first thing we should note is that NZDCAD is now close to its 20, 50, 100 and 200 day averages, located at 0.87, 0.8713, 0.8823 and 0.8931 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 14 days NZDCAD’s price has gone up 7 them.