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NZDCAD was in a complete control in taking up until last week where numerous decline happened in 0.96 area. Considering the first rejection on 7th September after posting big green candle suggest a weakness and continous declined candle in following days and further bearishness proves that currently this pair is still in oversold area and possible weakness may continue for some more time. In line with that, if we analyze the 4 HR chart, price action below 0.955 region from here will weaken this …
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NZDCAD gaining seems falling bearish again
Canadian dollar has started appreciating since the year starting and it formed a nice bearish channel. Viewing the current bearish doji and another pin bar doji two days before, it seems like the bearish run will continue. The long red candle just before 10th march is another evident that the price will come down again atleast to that level or even below.
Please find the daily chart of NZDCAD as below,
Please find the daily chart of NZDCAD as below,