(Last Updated July 15, 2021 1:20 GMT)
Currently, NZDCAD’s rate is down -2 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 is down 9 pips (0.11%) since yesterday (opening today near 0.86933872), marking the 2nd consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 19th for the day in terms of price change. The price chart of NZDCAD below illustrates.
NZDCAD Technical Analysis
The first thing we should note is that NZDCAD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDCAD, with 7 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 2.33, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
LOOKING AT A BULLISH RUN ON NZDCAD AFTER THE RETEST FROM THE ORDER BLOCK.