Hourly Update

(Last Updated November 30, 2022 1:45 GMT)

At the time of this writing, NZDCAD’s rate is down -3 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCAD has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly 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 End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCAD entered today at 0.84156444, up 97 pips (1.17%) from yesterday. For context, observe that yesterday was noteworthy in the sense that NZDCAD bested all 39 of the assets in the Forex class. Let’s take a look at price chart of NZDCAD.

NZDCAD Technical Analysis

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. The closest is the 200 day average, which is 236.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 10 out of the past 14 days.

The post NZD/CAD Down 3 Pips Over Past Hour, Tops All Forex; in an Uptrend Over Past 14 Days appeared first on CFDTrading.