NZDCAD

(Last Updated October 28, 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

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

Across several time periods between 20 and 200 days, the trend on NZDCAD has remained consistently bullish.

The chart below illustrates.

In terms of correlations over the past week for NZDCAD, it has demonstrated the strongest correlation with AUDCHF. Over the past 14 days, however, the asset showing the strongest correlation to NZDCAD is NZDUSD. Alternatively, USDCHF has been the asset least correlated with NZDCAD — but over the past two weeks, AUDCHF 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

At the moment, NZDCAD’s rate is up 0.0067 (0.76%) from the week prior. Moreover, note that the weekly chart shows that NZDCAD has seen 2 straight up weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Regarding moving averages, it should first be noted that price has crossed the 20 week moving average, resulting in them with price now being above it. 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.

NZDCAD: The Monthly View

Clearest trend on the monthly is apparent at the 60 month timeframe.