NZD/CAD Up 8 Pips On 4 Hour Chart, Makes Big Move Relative to Past Month; 3 Day Down Streak Snapped

NZD/CAD 4 Hour Price Update

Updated August 06, 2020 09:07 AM GMT (05:07 AM EST)

A moment of silence, please, for the end of NZD/CAD’s 3 four-hour candle down streak; price ended the previous 4 hours up 8 pips (0.09%) to finish the four-hour candle at a rate of 0.8809. Out of the 37 instruments in the Forex asset class, NZD/CAD ended up ranking 17th for the four-hour candle in terms of price change.

NZD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of NZD/CAD’s 3 day down streak; price ended yesterday up 2 pips (0.02%) to finish the day at a rate of 0.8819428738. Out of the 40 instruments in the Forex asset class, NZD/CAD ended up ranking 24th for the day in terms of price change. Here is a price chart of NZD/CAD.

NZD/CAD

NZD/CAD Technical Analysis

Notably, the current price of NZD/CAD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. For additional context, note that price has gone down 6 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on NZDCAD, with 5 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.