Our first target is the 0.91900 support, and if we see a break of this support then we expect to see price down at the 0.90000 round support level. 0.90000 is the long term bearish goal and it could be achieved if the strength in the Canadian dollar continues.
CAD has seen major improvement among the other currencies and market participants are favoring the advanced movement accordingly.
Should the CAD rally continue, then we might expect further depreciation not only in the NZD/CAD pair but also in USD/CAD and EUR/CAD.
Chart: NZD/CAD D1
I'll keep those levels in mind.
ReplyDeleteVery helpful analysis, thank you.
ReplyDeleteThank you for pointing this out!
ReplyDeleteI will keep eye on the pair.
ReplyDeleteGood analysis. Very good explanations.
ReplyDeleteGreat analysis as usual.
ReplyDeleteGood point! I'll keep an eye on it.
ReplyDelete