NZDCAD

(Last Updated September 22, 2020)

Hello! This is the news page for NZDCAD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for NZDCAD.

NZDCAD Moving Averages

Nuances in the trend on NZDCAD can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 50 are bullish, implying a upward trend, save for a drop that occurred about 2 months ago.

The chart below illustrates.

Regarding NZDCAD’s correlations over the past 7 days, it has been most correlated with NZDCHF. Over the past 14 days, however, the asset showing the strongest correlation to NZDCAD is USDJPY. Alternatively, CADCHF has been the asset least correlated with NZDCAD — but if we observe the prior two weeks, USDSEK has been the asset least correlated with NZDCAD. See the chart below to observe the recent price action in NZDCAD versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

Currently, NZDCAD’s rate is down -0.0039 (-0.43%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows NZDCAD’s price action over the past year.