NZDCAD Up 3 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; Crosses 50 and 200 Day Moving Averages

Hourly Update

(Last Updated April 23, 2021 2:21 GMT)

Currently, NZDCAD’s rate is up 3 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 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 is down 62 pips (0.69%) since the day prior (opening today near 0.8945951349), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 34th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

First things first: NZDCAD crossed below its 50 and 200 day moving averages yesterday. 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 4.1 pips away. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days NZDCAD’s price has gone up 9 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.