NZDCAD Down 5 Pips Over Past Hour; 2 Day Up Streak Snapped

Hourly Update

(Last Updated January 8, 2021 3:22 GMT)

At the time of this writing, NZDCAD’s rate is down -5 pips (-0.05%) from the hour prior. This is the 2nd hour in a row NZDCAD has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 choppiness in the recent daily price action of NZDCAD continues; to start today, it came in at a price of 0.9206, down 30 pips (0.32%) since yesterday. Out of the 40 instruments in the Forex asset class, NZDCAD ended up ranking 35th for the day in terms of price change. Here is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Notably, NZDCAD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.