(Last Updated November 20, 2020 2:19 GMT)
Currently, NZDCAD’s rate is up 3 pips (0.03%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCAD has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being above it. 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)
A moment of silence, please, for the end of NZDCAD’s 4 day up streak; price ended the previous day down 20 pips (-0.22%) to finish the day at a rate of 0.9033. Out of the 40 instruments in the Forex asset class, NZDCAD ended up ranking 28th 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 and 100 day averages, located at 0.8887, 0.882 and 0.8816 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 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 21 out of the past 30 days.