(Last Updated October 12, 2021 0:21 GMT)
At the moment, NZDCAD’s rate is up 3 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)
NZDCAD is down 57 pips (0.66%) since the day prior (opening today near 0.864371913), marking the 5th consecutive day a decline has happened. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 38th in terms of percentage change since the day prior. Here is a price chart of NZDCAD.
NZDCAD Technical Analysis
Coming into today the current price of NZDCAD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 138.4 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone down 18 them.