NZDCAD Up 4 Pips Over Past Hour, 4 Day Up Streak Broken; is Inching Close to 200 Day Average

Hourly Update

(Last Updated September 8, 2021 0:21 GMT)

At the moment, NZDCAD’s rate is up 4 pips (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCAD has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend 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)

After 4 up days, NZDCAD snaps its streak, falling 20 pips (-0.22%) over the past day to close at an exchange rate of 0.8944856059. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 35th for the day in terms of price change. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

Notably, the current price of NZDCAD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 26.7 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days NZDCAD’s price has gone up 8 them.