NZD/CAD Down 7 Pips in Last Hour, in an Uptrend Over Past 14 Days; Nears 200 Day Moving Average

Hourly Update

(Last Updated November 22, 2022 1:43 GMT)

Currently, NZDCAD’s rate is down -7 pips (-0.09%) from the hour prior. NZDCAD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 0.81972912, down 34 pips (0.41%) from yesterday. Relative to other instruments in the Forex asset class, NZDCAD ranked 31st yesterday in terms of percentage price change. Here is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Coming into today NZDCAD is now close to its 20 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 200 day average, which is 12.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 3 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello traders! ‼️ This is my analysis on NZDCAD . Here we can see that price took out buy stop liquidity from old high and rejected from bearish orderblock. I am still bearish here and will look to add positions.Like, comment and subscribe to be in touch with my content!