NZDCAD: Technical Outlook & Important Things to Watch
⚠️NZDCAD has been in a bearish trend since February but is currently in a consolidation phase.
The pair is trading within a horizontal range on a 4-hour chart, with two potential scenarios depending on price reaction.
A bullish scenario could see a move towards 0.823 if price breaks above 0.818, while a bearish scenario could lead to a continuation of the downtrend towards 0.800 if price falls below 0.813.
Given the long-term bearish trend, a bearish bias is maintained, but the outcome remains uncertain.
The pair is trading within a horizontal range on a 4-hour chart, with two potential scenarios depending on price reaction.
A bullish scenario could see a move towards 0.823 if price breaks above 0.818, while a bearish scenario could lead to a continuation of the downtrend towards 0.800 if price falls below 0.813.
Given the long-term bearish trend, a bearish bias is maintained, but the outcome remains uncertain.
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