(Last Updated November 23, 2021 1:43 GMT)
At the time of this writing, NZDCAD’s rate is down -7 pips (-0.08%) 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. Regarding the trend, note that the strongest trend 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 is down 5 pips (0.06%) since yesterday (opening today near 0.8831657748), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 30th for the day in terms of price change. The price chart of NZDCAD below illustrates.
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. 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 1.8 pips away. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDCAD, with 8 buy signals on our radar and 0 sell signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
From its report on Financial Stability report, the governor of the reserve bank of new zealand was clear on the following points:1- less stimulus meaning consumers,cooperations,investors will no longer be receiving money from the goverment but from aother source banks2- Banks have enough capital3 – Strong levels of economic activty. With these three points in miind, i willl be expecting from the monetary report coming out in about 55 mins that the interest rates be raised. So my bias is to go long.