NZD/CAD Down 5 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Crosses 20 Day Moving Average

NZD/CAD 4 Hour Price Update

Updated July 01, 2020 01:04 AM GMT (09:04 PM EST)

NZD/CAD is down 5 pips (0.06%) since the last 4 hour candle (opening the current 4 hour candle near 0.8752), marking the 2nd candle in a row it has gone down. Compared to its peers in the Forex, NZD/CAD gave its buyers a return that ranked 36th in terms of percentage change since the last 4 hour candle.

NZD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of NZD/CAD continues; to start today, it came in at a price of 0.875671642, down 23 pips (0.26%) since the previous day. Relative to other instruments in the Forex asset class, NZD/CAD ranked 31st the previous day in terms of percentage price change. The price chart of NZD/CAD below illustrates.

NZD/CAD Technical Analysis

Notably, NZD/CAD crossed below its 20 day moving average yesterday. 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 20 day average, which is 2.5 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Volatility for NZD/CAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 2 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1.5, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.