NZD CAD

NZDCAD Currency pair flag

Latest NZD CAD Analysis

New Zealand Dollar (NZD) crosses stay intermediate-term bearish

  • A spotlight in this report on the NZD cross currency rates, focusing on the New Zealand Dollar against the Japanese Yen, Swiss Franc and Canadian Dollar.
  • NZDJPY, NZDCHF and NZDCAD all stay bearish on an intermediate-term basis.

NZDJPY sitting at cycle low

Despite a small rebound on Friday after another new cycle low on Thursday, the short-term bear theme remains intact from the negative consolidation in the second half of May after he acceleration lower in early May, to keep risks lower for Monday and into month-end.

For Today:  

  • We see a downside bias for 71.50; break here aims for 71.29 and 71.00.
  • But above to 71.82 opens risk up to 71.98 and maybe 72.17.

Intermediate-term Outlook – Downside Risks: We see a downside risk for 70.00.

  • Lower targets would be 69.27 and 67.01
  • What Changes This? Above 72.78 shifts the outlook back to neutral; above 73.47 is needed for a bull theme.

Daily NZDJPY Chart

nzdjpy

NZDCHF rebound, but bear theme very much intact

A Friday rebound from a new cycle low at .6533 for a bullish outside daily pattern, BUT the very short-term bear view is undamaged whilst below resistance at .6582, to leave the bias back to the downside on Monday and into late May.

For Today:  

  • We see a downside bias for .6545; break here aims for .6533 and .6500.
  • But above .6582 opens risk up to .6605 and .6620.

Intermediate-term Outlook – Downside Risks: We see a downside risk for .6500/ 6496.

  • Lower targets would be .6273 and .6000.
  • What Changes This? Above .6641 shifts the intermediate-term outlook straight to a bull theme.

Daily NZDCHF Chart

nzdchf

NZDCAD corrective recovery stalling

A strong recovery effort from the middle of last week from the new cycle low on Wednesday at .8692, but the a somewhat negative, almost Shooting Star candlestick on Friday down from just below .8830 resistance highlights recovery exhaustion and sees the bias set to return for a push lower into Monday and month-end.

For Today:  

  • We see a downside bias for .8778; break here aims for .8755 and .8718.
  • But above .8825/30 opens risk up to .8853, maybe towards key .8894.

Intermediate-term Outlook – Downside Risks: We see a downside risk for .8691.

  • Lower targets would be .8500 and .8172
  • What Changes This? Above .8894 shifts the intermediate-term outlook straight to a bull theme.

Daily NZDCAD Chart

nzdcad

Please join the NZD CAD discussion

Your email address will not be published. Required fields are marked *

Cheap and Fast Money Transfer

Other major currency pairs


BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.


NZD/CAD – Live and Historical Rates

Neither the New Zealand Dollar (Kiwi) nor the Canadian Dollar are major currencies. Thus, the pair they form together is not a major, or a commodity pair. The above chart shows the amount of CAD one needs to purchase a NZD.

The NZD

The NZD was introduced in 1967, replacing the New Zealand Pound. The country had had a distinct currency from that of Britain since 1933. The NZD currently serves as the national currency for 5 countries. Besides New Zealand itself, Tokelau, Niue, the Pitcairn Islands and the Ross Dependency also use it, alongside the Cook Islands. The strength of the Kiwi relies heavily on the strength of the economies which comprise New Zealand’s largest trading partners, namely the US and the Australian economies. Since agricultural products represent the bulk of the country’s economic output, the value of the kiwi dollar is indeed rather sensitive to the fluctuation of these prices.

The CAD

The Canadian Dollar has been floating since 1970. Controlled by the Bank of Canada, the currency hasn’t really required any major or minor interventions lately. At one time under the authority of the British Monarchy, Canada’s currency is still most dependent on the US dollar and the strength of the US economy. The geographical proximity of the two countries means that some 85% of the country’s exports head to the US. Also, around 50% of its imports originate from the US too.

With that in mind, it isn’t exactly surprising that at one time, the assimilation of the CAD into the USD was sought.

NZDCAD Analysis

The best way to find trading opportunities with this low-volume pair is to watch the commodity and agricultural price fluctuations. Changes in the economies of New Zealand’s major trading partners also impact the value of the kiwi. The US, Australia and Japan are included in this category.

See more forex charts to use in your forex analysis