(Last Updated November 19, 2020 2:20 GMT)
At the moment, NZDCAD’s rate is down -12 pips (-0.13%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, 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)
NZDCAD is up 21 pips (0.24%) since yesterday (opening today near 0.90525), marking the 4th consecutive day it has gone up. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 5th in terms of percentage change since yesterday. Below is a price chart of NZDCAD.
NZDCAD Technical Analysis
Coming into today NZDCAD is now close to its 20 day averages, located at 0.8874 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 14 day horizon; over that time period, price has been moving up. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 21 them.