(Last Updated April 22, 2021 2:21 GMT)
Currently, NZDCAD’s rate is down -5 pips (-0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 20, 50, 100 and 200 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)
The back and forth price flow continues for NZDCAD, which started today off at 0.9008184677, down 28 pips 0.31% from yesterday. Relative to other instruments in the Forex asset class, NZDCAD ranked 27th yesterday in terms of percentage price change. Let’s take a look at price chart of 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 6.1 pips away. 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. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 9 out of the past 14 days. We’re also seeing a bearish engulfing pattern form over the past two candles, which suggests the uptrend on the 14 and 90 day
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s 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.
trade at your own risk – not financial advice