(Last Updated July 5, 2022 1:41 GMT)
At the moment, NZDCAD’s rate is up 6 pips (0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 down 16 pips (0.2%) since the previous day (opening today near 0.79790095), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 33rd for the day in terms of price change. Here is a price chart of NZDCAD.
NZDCAD Technical Analysis
The first thing we should note is that the current price of NZDCAD is sitting close to its 20 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 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 19 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDCAD, with 5 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Hey traders, in today’s trading session we are monitoring NZDCAD for a selling opportunity around 0.8 zone, once we will receive any bearish confirmation the trade will be executed.Trade safe, Joe.