NZDCAD Up 5 Pips in Last Hour, Moves Up For the 6th Day In A Row; Social Sentiment Biased Towards Selling

Hourly Update

(Last Updated November 12, 2020 1:19 GMT)

Currently, NZDCAD’s rate is up 5 pips (0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCAD has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists 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 27 pips (0.3%) since the previous day (opening today near 0.8889), marking the 6th day in a row it has gone up. 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 and 100 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 100 day average, which is 89.7 pips away. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 17 them.