NZD/CAD Up 6 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Entered Today Up For the 2nd Straight Day

Hourly Update

(Last Updated September 13, 2022 1:43 GMT)

At the time of this writing, NZDCAD’s rate is up 6 pips (0.07%) from the hour prior. This is the 2nd hour in a row NZDCAD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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)

NZDCAD is up 8 pips (0.11%) since the day prior (opening today near 0.79712776), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 21st in terms of percentage change since the day prior. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Notably, NZDCAD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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. 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 10 days NZDCAD’s price has gone up 7 them.