NZD/CAD Up 4 Pips On Hourly Chart; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 13, 2022 1:41 GMT)

At the time of this writing, NZDCAD’s rate is up 4 pips (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists 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)

The back and forth price flow continues for NZDCAD, which started today off at 0.79896856, up 44 pips 0.55% from the previous day. Relative to other instruments in the Forex asset class, NZDCAD ranked 3rd the previous day in terms of percentage price change. Here is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

The first thing we should note is that NZDCAD is now close to its 20 and 50 day averages, located at 0.8077 and 0.8147 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 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days.