(Last Updated November 23, 2020 2:19 GMT)
Currently, NZDCAD’s rate is up 8 pips (0.09%) from the hour prior. The hourly chart shows that NZDCAD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCAD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 0.90695, up 37 pips 0.4% from the previous day. Relative to other instruments in the Forex asset class, NZDCAD ranked 4th the previous day in terms of percentage price change. The price chart of NZDCAD below illustrates.
NZDCAD Technical Analysis
Notably, the current price of NZDCAD is sitting close to its 20 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 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 10 days.