NZDCAD ANALYSIS
NZDCAD broke major uptrendline
Pair respects downtrendline
Based below key level between levels 0.8712 and 0.8743
Price rejected from HVN at level 0.8743 with strong bearish movement which indicates that pair is in distribution phase
Below SMA 100 on H4 frame
MACD shows weakness in bullish momentum
RSI is below level 50
Price now is forming bearish Elliot wave (5)
It's expected for the continuation of bearish movement to target support level at 0.8340
Pair respects downtrendline
Based below key level between levels 0.8712 and 0.8743
Price rejected from HVN at level 0.8743 with strong bearish movement which indicates that pair is in distribution phase
Below SMA 100 on H4 frame
MACD shows weakness in bullish momentum
RSI is below level 50
Price now is forming bearish Elliot wave (5)
It's expected for the continuation of bearish movement to target support level at 0.8340
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