NZDCAD Up 4 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated February 25, 2021 0:24 GMT)

Currently, NZDCAD’s rate is up 4 pips (0.04%) from the hour prior. NZDCAD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCAD, which opened today priced near 0.9240473352, is down 2 pips 0.03% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 25th in terms of percentage change since the previous day. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

The first thing we should note is that NZDCAD is now close to its 20, 50 and 100 day averages, located at 0.9185, 0.9153 and 0.9029 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days NZDCAD’s price has gone down 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.