NZD/CAD Up 6 Pips On Hourly Chart, Moves Up For the 5th Consecutive Day; Crosses 200 Day Moving Average

Hourly Update

(Last Updated November 17, 2022 1:45 GMT)

Currently, NZDCAD’s rate is up 6 pips (0.07%) from the hour prior. The hourly chart shows that NZDCAD has seen 2 straight up hours. 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 up 17 pips (0.21%) since the day prior (opening today near 0.81921069), marking the 5th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, NZDCAD ranked 20th the day prior in terms of percentage price change. Below is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCAD crossed above its 200 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 3.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 11 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 1 sell signals and 1 buy 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.

🔰You can see the analysis of the New Zealand dollar to Canadian dollar currency pair in a 15-minute time frame (NZDCAD_ 15min) 🔍🎁⚡Considering that the price has been able to break the up trend line🖤 and pullback💜 three times, it can first fall to the Support🧡 and then to the DEMAND1 zone🔻Do you think this analysis can be profitable❓ I hope the analysis was useful for you🤍🌹 ____📈TRADER STREET📉______