NZD/CAD Down 10 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Eyes 20 Day Average
This is a reversal of the price action on the previous hour, in which price moved up.
NZDCAD
(Last Updated April 15, 2021)
Hello! This is the news page for NZDCAD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for NZDCAD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Canada Manufacturing Sales MoM | Feb 2021 | Canadian Dollar | CAD | 2021-04-15 | 12:30 GMT | -1% | -1.6% |
| New Zealand Business NZ PMI | Mar 2021 | New Zealand Dollar | NZD | 2021-04-15 | 22:30 GMT | ||
| Canada Housing Starts | Mar 2021 | Canadian Dollar | CAD | 2021-04-16 | 12:15 GMT | 250K |
The Trend
A trend/countertrend situation exists on NZDCAD, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
NZDCAD Moving Averages
NZDCAD’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, implying a downward trend, aside from a jump about 6 months prior.
Below is a chart showing NZDCAD’s price with its moving averages.
Regarding NZDCAD’s correlations over the past 7 days, it has been most correlated with USDZAR. Over the past 14 days, however, AUDUSD is the asset most correlated to NZDCAD. Alternatively, GBPAUD has been the asset least correlated with NZDCAD — but if we observe the prior two weeks, the asset least correlated with NZDCAD has been GBPUSD. The chart below illustrates NZDCAD against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, NZDCAD’s rate is up 127 pips (1.44%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDCAD has now gone up 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.
NZDCAD: The Monthly View
Monthly trend: strongest on the 24 month timeframe.
NZDCAD Down 3 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; 2 Day Up Streak Snapped
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.
NZDCAD Down 10 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Day In A Row
For additional context, note that price has gone up 19 out of the past 30 days.
NZDCAD Up 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Down For the 2nd Consecutive Day
This imputes a buy/sell ratio of 0, which is quite bearish.
NZDCAD Down 3 Pips in Last Hour, in an Uptrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart
The closest is the 200 day average, which is 82.8 pips away.
NZDCAD Up 2 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Doji and Pin Bar Patterns Appearing on Chart
The closest is the 200 day average, which is 82.8 pips away.
NZDCAD Down 3 Pips in Last Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
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.
NZDCAD Down 8 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart
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.
NZDCAD Down 6 Pips in Last Hour, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days
For additional context, note that price has gone up 10 out of the past 14 days.
NZD/CAD Down 2 Pips in Last Hour; in an Uptrend Over Past 14 Days
The closest is the 200 day average, which is 58 pips away.