NZDCAD Down 4 Pips On Hourly Chart, 2 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated January 1, 2021 3:21 GMT)

At the moment, NZDCAD’s rate is down -4 pips (-0.04%) from the hour prior. NZDCAD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being below it. 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)

The back and forth price flow continues for NZDCAD, which started today off at 0.91678, down 17 pips 0.19% from yesterday. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 30th in terms of percentage change since yesterday. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

Coming into today the current price of NZDCAD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 9 out of the past 14 days.