NZDCAD: Bearish Structure Setups
Price has been breaking lower on the H4 chart and we are looking for potential short opportunities around the 0.9230 and 0.9300 resistance levels which confluence with 50% and 61.8% fibonacci levels as well.
The Immediate resistance level is at 0.9150, with demand zone around 0.9000 region and supply zone around 0.9400 region.
OUR DIRECTIONAL BIAS FOR THE WEEK
- NZD bearish (RBZD tone was dovish in their last statement) - watch out for employment data and Gov Wheeler speech
- CAD neutral (BoC tone was optimistic in their last statement, and potential bottom of Oil) - watch out any update in the Oil market
For more detailed analysis, visit our blog at: fxpresearch.com/market-analysis/2016/1/31/31st-january-market-analysis
The Immediate resistance level is at 0.9150, with demand zone around 0.9000 region and supply zone around 0.9400 region.
OUR DIRECTIONAL BIAS FOR THE WEEK
- NZD bearish (RBZD tone was dovish in their last statement) - watch out for employment data and Gov Wheeler speech
- CAD neutral (BoC tone was optimistic in their last statement, and potential bottom of Oil) - watch out any update in the Oil market
For more detailed analysis, visit our blog at: fxpresearch.com/market-analysis/2016/1/31/31st-january-market-analysis
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