Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
NZD/CAD: trend collision

NZD/CAD: trend collision

Information is not investment advice

Short term

The NZD has been frequently appearing in the “Best performers” list lately. That is because New Zealand, similar to Australia, managed the virus pretty well and is lucky to be among the first countries to get out of the hibernation state together with China.

Although the NZD/CAD, particularly, presents a volatile picture, still we see that the NZD keeps fighting and has been doing that pretty well. The short-term picture is oriented sideways and at the very least gives the same hope for bulls as the bears may take. Note that the Moving Averages have started to reconfigure themselves in ascending order during the last week, which indicates an intention to rise. Fair enough, what is the long-term layout then?

NZDCADH1.png

Long term

One-year horizon gives a different scenario. Generally, the NZD/CAD is in decline. The volatility is there, but the downturn is pretty consistent, although not without intermittent upswings. The very last episode, apart from a highly volatile earthquake-like behavior, gives a bullish impression. That trend collides with the larger downward trajectory almost exactly where the currency trades now. That suggests that we will see, first of all, further volatility as the two trends will be fighting to impose one of another. Secondly, we are still likely to have NZD/CAD keep losing value in the long-term as the fundamentals suggest. However, the short-term picture is probably going to be sideways, as it appears from the H1 chart.

Resistance: 0.8510; 0.8550

Support: 0.8430; 0.8390

NZDCADDaily.png

                                                                                                     LOG IN

Similar

Popular

3 Forex Pairs to Trade Right Now

The year started only a couple of weeks ago, but we already have a lot of fascinating movements in various trading instruments. To help you in trading, we choose several forex pairs that may surprise you and plunge greatly in a short period. 

Choose your payment system

Be on top of your game

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later