NZDCAD Down 4 Pips Over Past Hour, 2 Day Down Streak Ended; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated May 4, 2021 2:22 GMT)

Currently, NZDCAD’s rate is down -4 pips (-0.04%) from the hour prior. The hourly chart shows that NZDCAD has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for NZDCAD, which started today off at 0.8836387596, up 38 pips 0.43% from the previous day. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 9th in terms of percentage change since the previous day. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

The first thing we should note is that NZDCAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 79.3 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. For additional context, note that price has gone up 7 out of the past 14 days.