(Last Updated March 26, 2021 23:22 GMT)
At the moment, NZDCAD’s rate is up 9 pips (0.1%) from the hour prior. This is the 2nd hour in a row NZDCAD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 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 above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
NZDCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDCAD, which opened today priced near 0.8778566498, is up 14 pips 0.16% since the day prior, marking a reversal from the day prior — and the end of a 5 day negative run. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 21st for the day in terms of price change. The price chart of NZDCAD below illustrates.
NZDCAD Technical Analysis
The first thing we should note is that the current price of NZDCAD is sitting close to its 200 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 200 day average, which is 165.4 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. 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 down 10 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!