(Last Updated July 13, 2021 1:20 GMT)
Currently, NZDCAD’s rate is up 1 pips (0.01%) from the hour prior. The hourly chart shows that NZDCAD has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)
The back and forth price flow continues for NZDCAD, which started today off at 0.8717326551, up 8 pips 0.09% from the previous day. Relative to other instruments in the Forex asset class, NZDCAD ranked 18th the previous day in terms of percentage price change. Below is a price chart of NZDCAD.
NZDCAD Technical Analysis
Notably, NZDCAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 15 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.