NZD/CAD Up 6 Pips Over Past Hour, Makes Big Move Relative to Past Month; Came Into Today Up For the 2nd Consecutive Day

Hourly Update

(Last Updated June 17, 2022 1:41 GMT)

Currently, NZDCAD’s rate is up 6 pips (0.07%) from the hour prior. NZDCAD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDCAD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 138 pips (1.7%) since the previous day (opening today near 0.82381538), marking the 2nd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 2nd for the day in terms of price change. Below is a price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

Notably, NZDCAD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 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 down 6 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCAD, with 4 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.8, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This is an educational + analytic content that will teach why and how to enter a tradeMake sure you watch the price action closely in each analysis as this is a very important part of our methodDisclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions