NZD/CAD Up 3 Pips in Last Hour, Makes Big Move Relative to Past Three Months; 2 Day Up Streak Snapped

Hourly Update

(Last Updated September 14, 2022 1:42 GMT)

Currently, NZDCAD’s rate is up 3 pips (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCAD has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCAD. Given that we see downtrend 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 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 back and forth price flow continues for NZDCAD, which started today off at 0.78949332, down 76 pips 0.96% from the previous day. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 30th for the day in terms of price change. Here is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Coming into today the current price of NZDCAD is sitting close to its 20 and 50 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 down over that time. Or to simplify this another way, note that out of the past 14 days NZDCAD’s price has gone up 9 them.