Forex Technical Analysis

NZD/CAD: another bearish candidate – FBS

Key indicators: Performance in 2020: -5%, Last day range: 0.8257 – 0.8482, 52-week range: 0.8015 – 0.9281

What’s happening? NZD/CAD trades at 0.8349, testing the lows of Summer-2019, -2018, and -2015. The support for all is at 0.8237. Crossing this strategic threshold paves the way to the 7-year low of 0.8032. Given the current situation for the NZD and its heavily increased volatility, it is not unreasonable to factor in this level for the bearish expectations.

Technical levels: Resistance 0.8500, Support 0.8237

Read More

Leave a Comment

Your email address will not be published.