(Last Updated November 18, 2020 2:20 GMT)
Currently, NZDCAD’s rate is down -3 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
NZDCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDCAD is up 5 pips (0.06%) since the previous day (opening today near 0.9031), marking the 3rd consecutive day it has gone up. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 16th in terms of percentage change since the previous day. Here is a price chart of NZDCAD.
NZDCAD Technical Analysis
Notably, NZDCAD is now close to its 20 and 100 day moving averages, which may act as price barrier for the asset. 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 172.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 20 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.