NZD/CAD 2 Day Up Streak Ended; in a Downtrend Over Past 30 Days
The closest is the 100 day average, which is 66 pips away.
NZDCAD
(Last Updated January 18, 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 Housing Starts | Dec 2020 | Canadian Dollar | CAD | 2021-01-18 | 13:15 GMT | 227K | |
| Canada Foreign Securities Purchases | Nov 2020 | Canadian Dollar | CAD | 2021-01-18 | 13:30 GMT | ||
| Canada Foreign Securities Purchases by Canadians | Nov 2020 | Canadian Dollar | CAD | 2021-01-18 | 13:30 GMT | ||
| New Zealand NZIER Capacity Utilization | Q4 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:00 GMT | ||
| New Zealand NZIER Business Confidence | Q4 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:00 GMT |
The Trend
On NZDCAD, there is currently an uptrend on the 90 and 30 day timeframes.
NZDCAD Moving Averages
Across several time periods between 20 and 200 days, the trend on NZDCAD has remained consistently bullish.
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 EURCHF. Over the past 14 days, however, the asset showing the strongest correlation to NZDCAD is USDSEK. Alternatively, USDZAR has been the asset least correlated with NZDCAD — just the same as it has been over the past two weeks. 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 down -101 pips (-1.1%) 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. As for the trend on the weekly timeframe, we see the clearest trend 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. 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.
NZD/CAD Down 5 Pips, in a Downtrend Over Past 30 Days; Nears 100 Day Moving Average
Out of the 40 instruments in the forex asset class, nzd/cad ended up ranking 22nd for the day in terms of day-over-day price change.
NZD/CAD Down 18 Pips, Breaks Below 100 Average; in a Downtrend Over Past 30 Days
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.
NZD/CAD Down 24 Pips, in a Downtrend Over Past 30 Days; Nears 100 Day Moving Average
This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 0.29% from the day before — and down 14.38% from the same day the week before.
NZD/CAD 2 Day Down Streak Snapped; Crosses 100 Day Moving Average
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 8.61% from the day prior, but down 16.96% from the same day the week before.
NZD/CAD Up 4 Pips, in a Downtrend Over Past 14 Days; Eyes 100 Day Average
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
NZD/CAD Down 14 Pips; Eyes 100 Day Average
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 2.39% from the day prior, but down 2.38% from the same day the week before.