NZD/CAD Down 6 Pips in Last Hour, in an Uptrend Over Past 14 Days; Nears 50 Day Moving Average

Hourly Update

(Last Updated December 27, 2021 1:40 GMT)

At the moment, NZDCAD’s rate is down -6 pips (-0.06%) from the hour prior. This is the 2nd hour in a row NZDCAD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend 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 entered today at 0.87289104, down 19 pips (0.22%) from the day prior. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 31st for the day in terms of price change. Below is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Coming into today NZDCAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 43.5 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed down. For additional context, note that price has gone down 16 out of the past 30 days.