(Last Updated February 15, 2021 23:21 GMT)
At the time of this writing, NZDCAD’s rate is down -8 pips (-0.09%) from the hour prior. NZDCAD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)
The back and forth price flow continues for NZDCAD, which started today off at 0.9156108725, down 29 pips 0.32% from the day prior. Relative to other instruments in the Forex asset class, NZDCAD ranked 38th the day prior in terms of percentage price change. Here is a price chart of NZDCAD.
NZDCAD Technical Analysis
Notably, NZDCAD crossed below its 20 day moving average yesterday. Volatility for NZDCAD 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 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!