NZDCAD Up 6 Pips in Last Hour, 2 Day Down Streak Ended; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, nzdcad ranked 8th the previous day in terms of percentage price change.
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 Up 3 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; Crosses 50 and 200 Day Moving Averages
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down.
NZDCAD Down 5 Pips in Last Hour, 2 Day Up Streak Snapped; Bearish Engulfing Pattern Present
This move is a reversal from the hour prior, which saw price move up.
NZDCAD Down 3 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Breaks Above 50 Day Average
This move is a reversal from the hour prior, which saw price move up.
NZDCAD Down 4 Pips Over Past Hour, Breaks Above 200 Day Average; Sentiment Strongly Favors Buyers
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
NZDCAD Up 3 Pips in Last Hour, in an Uptrend Over Past 14 Days; Bearish Engulfing Pattern Present
It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign.
NZDCAD Up 8 Pips in Last Hour, Came Into Today Up For the 4th Day In A Row; Breaks Above 200 Day Average
The closest is the 50 day average, which is 14.5 pips away.
NZDCAD Down 7 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 3rd Straight Day
The closest is the 200 day average, which is 8.2 pips away.
NZDCAD Down 8 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Day In A Row
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
NZDCAD Down 0 Pips On Hourly Chart, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart
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.