NZDCAD Down 1 Pips On Hourly Chart, Entered Today Up For the 2nd Straight Day; Breaks Above 50 Day Average
Compared to its peers in the forex, nzdcad gave its buyers a return that ranked 5th in terms of percentage change since yesterday.
NZDCAD
(Last Updated January 23, 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:
The Trend
A trend/countertrend situation exists on NZDCAD, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
NZDCAD Moving Averages
The moving averages on NZDCAD indicate a trend that is clearly bullish. Moreover, it should also be noted that the 20 SMA just turned bullish today.
Below is a chart showing NZDCAD’s price with its moving averages.
As for assets in the Forex asset class NZDCAD has been correlated to over the past week, it has demonstrated the strongest correlation with TRYJPY. If we zoom out to a two week basis, though, AUDNZD is the asset most correlated to NZDCAD. On the flip side, GBPCAD has been the asset least correlated with NZDCAD — but over the past two weeks, the asset least correlated with NZDCAD has been EURTRY. The chart below illustrates NZDCAD against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, NZDCAD’s rate is up 42 pips (0.47%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDCAD has now gone up 12 of the past 14 weeks. Regarding the trend, note that the strongest trend exists on the 20 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
Strongest trend on the 120 month timeframe.
NZD/CAD Down 16 Pips On Hourly Chart, Makes Big Move Relative to Past Month; 3 Day Down Streak Ended
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes.
NZDCAD Up 8 Pips On Hourly Chart, Breaks Above 50 Day Average; in a Downtrend Over Past 14 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
NZDCAD Up 6 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, nzdcad ranked 27th the previous day in terms of percentage price change.
NZDCAD Up 24 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 14 Days
This move is a reversal from the hour prior, which saw price move down.
NZDCAD Down 6 Pips On Hourly Chart, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone down 6 out of the past 10 days.
NZDCAD Down 5 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Breaks Below 20 Day Average
Relative to other instruments in the forex asset class, nzdcad ranked 39th the previous day in terms of percentage price change.
NZDCAD Up 0 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average
This is a reversal of the price action on the previous hour, in which price moved down.
NZDCAD Down 1 Pips Over Past Hour, Moves Down For the 3rd Day In A Row; Nears 20 Day Moving Average
Price action traders may also wish to note that we see a pin bar candlestick pattern on nzdcad.
NZDCAD Down 5 Pips Over Past Hour; 2 Day Up Streak Snapped
This is the 2nd hour in a row nzdcad has seen its price head down.