(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:
| 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 |
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’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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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.
Monthly trend: strongest on the 24 month timeframe.
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 clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
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.
Price action traders may also wish to note that we see a doji candlestick pattern on nzdcad.
The closest is the 20 day average, which is 79.3 pips away.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe.
The closest is the 20 day average, which is 20.4 pips away.
It’s been a feast for bulls operating on an hourly timeframe, as nzdcad has now gone up 4 of the past 5 hours.
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.
Price action traders may also wish to note that we see a pin bar candlestick pattern on nzdcad.