(Last Updated March 26, 2021 1:21 GMT)
At the moment, NZDCAD’s rate is up 9 pips (0.1%) from the hour prior. This is the 2nd consecutive hour NZDCAD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
NZDCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDCAD is down 39 pips (0.45%) since the day prior (opening today near 0.8764180224), marking the 5th consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 35th for the day in terms of price change. Below is a price chart of NZDCAD.
NZDCAD Technical Analysis
The first thing we should note is that NZDCAD is now close to its 200 day averages, located at 0.8944 respectively, and thus may be at a key juncture along those timeframes. 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 179.6 pips away. It should be noted, though, the 200 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 down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone down 21 them.