NZDCAD Down 9 Pips On Hourly Chart; Entered Today Up For the 2nd Day In A Row

Hourly Update

(Last Updated January 7, 2021 2:21 GMT)

At the time of this writing, NZDCAD’s rate is down -9 pips (-0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCAD is up 57 pips (0.62%) since the day prior (opening today near 0.92357), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 4th in terms of percentage change since the day prior. The price chart of NZDCAD below illustrates.

NZDCAD

NZDCAD Technical Analysis

The first thing we should note is that the current price of NZDCAD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 18 out of the past 30 days.