NZDCAD Up 5 Pips On Hourly Chart; is Inching Close to 50 Day Average

Hourly Update

(Last Updated October 14, 2020 2:19 GMT)

At the time of this writing, NZDCAD’s rate is up 5 pips (0.06%) from the hour prior. This is the 3rd straight hour NZDCAD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Of note is that the 100 hour changed directions on NZDCAD; it is now pointing up. 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)

NZDCAD entered today at 0.87314, up 17 pips (0.2%) from the day prior. Out of the 40 instruments in the Forex asset class, NZDCAD ended up ranking 11th for the day in terms of price change. Below is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Notably, the current price of NZDCAD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 32.1 pips away. Or to simplify this another way, note that out of the past 10 days NZDCAD’s price has gone down 7 them.