NZDCAD Down 2 Pips Over Past Hour, Moves Up For the 3rd Consecutive Day; Breaks Above 100 Day Average

Hourly Update

(Last Updated July 19, 2021 6:20 GMT)

At the time of this writing, NZDCAD’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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)

NZDCAD is up 10 pips (0.12%) since the previous day (opening today near 0.8831847024), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDCAD ranked 16th the previous day in terms of percentage price change. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

First things first: NZDCAD crossed above its 100 day moving average yesterday. 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 day timeframe, where price is headed down. For additional context, note that price has gone up 8 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCAD, with 1 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.2, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Watch Level 0.87808 for a Long Position.