NZD/CAD Up 10 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Day In A Row

Hourly Update

(Last Updated November 19, 2021 1:44 GMT)

At the time of this writing, NZDCAD’s rate is up 10 pips (0.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 up 36 pips (0.4%) since yesterday (opening today near 0.8864566164), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 13th in terms of percentage change since yesterday. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

First things first: NZDCAD crossed above its 20, 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 20 day average, which is 11 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Volatility for NZDCAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 18 them.

The View From Around the Web

Not much commentary on NZDCAD that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

We can expect 3 goals.please note the resistance.each target can be in the role of a resistance after being touched.