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The NZDCAD has to decline – Forecast today – 12-9-2024
The NZDCAD price formed some correctional bearish waves recently, affected by 38.2% correction level that forms solid barrier at 0.8480, to decline temporarily towards 0.8310 and face the MA55 as appears on the chart.
Note that the frequent stability above the additional support 0.8260 and the MA55 that keeps forming additional support now allow us to wait to gather the positive momentum to manage to activate the bullish track and target 0.8400 level initially followed by attempting to press on 0.8480 barrier in order to find a way to resume the bullish trades.
The expected trading range for today is between 0.8310 and 0.8400
Trend forecast: Bullish
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