NZD/CAD Up 13 Pips On Hourly Chart; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 4, 2022 1:42 GMT)

At the time of this writing, NZDCAD’s rate is up 13 pips (0.16%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend 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)

The choppiness in the recent daily price action of NZDCAD continues; to start today, it came in at a price of 0.79951898, down 38 pips (0.48%) since the day prior. Relative to other instruments in the Forex asset class, NZDCAD ranked 24th the day prior in terms of percentage price change. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Coming into today NZDCAD is now close to its 20 and 50 day averages, located at 0.8114 and 0.8195 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 18 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCAD, with 4 buy signals on our radar and 0 sell signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.