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.

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.