NZDCAD Up 2 Pips in Last Hour, Moves Up For the 3rd Consecutive Day; Breaks Above 100 Day Average

Hourly Update

(Last Updated July 19, 2021 3:29 GMT)

Currently, NZDCAD’s rate is up 2 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists 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 10 pips (0.12%) since the day prior (opening today near 0.8831847024), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, NZDCAD ranked 16th the day prior in terms of percentage price change. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCAD crossed above its 100 day moving average yesterday. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 16 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCAD, with 1 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.2, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Watch Level 0.87808 for a Long Position.