NZD/CAD Up 3 Pips On Hourly Chart, Entered Today Down For the 2nd Straight Day; is Inching Close to 200 Day Average

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Hourly Update (Last Updated March 22, 2021 1:48 GMT) At the moment, NZDCAD’s rate is up 3 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound…

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