NZD/CAD Bullish

The chart below is NZD/CAD daily chart. Price over the last week has finally shown a break out of the ranging area and is now above the 0.90000 range resistance. We have seen the 20 & 50 EMA's cross to the upside, this is the first time since July 2017.

Price is also on the bullish side of the EMA's which is in favor of further bullish movement. So as mentioned, we have seen a breakout of the 0.90000 resistance however, we are yet to see a retest.

Price has formed a bearish candle on Friday, this is not a bearish engulfing however from here we could see price back down at 0.90000 resistance turned support for a retest. If we do see price back at the 0.90000 area, this could hint bullish price action with the target of 0.91900.

Chart: NZD/CAD D1