(Last Updated January 6, 2021 2:21 GMT)
Currently, NZDCAD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
NZDCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDCAD is down 6 pips (0.06%) since the day prior (opening today near 0.9162), marking the 2nd consecutive day it has gone down. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Let’s take a look at price chart of 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 up over that time. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 17 them.