NZD/CAD Down 25 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Day In A Row

NZD/CAD 4 Hour Price Update

Updated June 25, 2020 01:12 PM GMT (09:12 AM EST)

NZD/CAD, which opened the current 4 hour candle priced near 0.8746, is down 25 pips 0.29% since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 3 four-hour candle positive run. Compared to its peers in the Forex, NZD/CAD gave its buyers a return that ranked 34th in terms of percentage change since the last 4 hour candle.

NZD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/CAD is down 4 pips (0.04%) since the previous day (opening today near 0.8735916292), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, NZD/CAD gave its buyers a return that ranked 26th in terms of percentage change since the previous day. Below is a price chart of NZD/CAD.

NZD/CAD Technical Analysis

First things first: NZD/CAD crossed below its 20 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 9.2 pips away. Volatility for NZD/CAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCAD, with 3 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

USD/CAD, CAD/JPY and NZD/CAD have recently begun to consolidate near support as each pair negotiates various themes and considerations. Here are the key levels to watch.