The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
Economies.com
2024-04-19 08:21AM UTC
NZDCAD Pair Analysis
Expected Scenario
- The NZDCAD pair has confirmed its submission to bearish bias, with a recent close below the 0.8240 resistance line, influenced by additional negativity from the MA55 settling below the major resistance.
- The chart indicates a movement towards 0.8085, with expectations of testing the additional support at 0.8060. A breakthrough at this level would likely resume the negative momentum, targeting 0.8025 as the first station for the bearish trajectory, followed by 0.7975 in the medium term.
Expected Trading Range
Between 0.8135 support and 0.8030 resistance.
Trend Forecast: Bearish
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