The NZDCAD pair has shown a recent bearish momentum as the price line broke below a dynamic resistance level, represented by a bullish blue line. This technical development suggests that the bulls may have lost their grip on the market, and the bears may have taken control. Additionally, the ascending slope of the chart has decreased, indicating a potential slowdown in the bullish trend. Moreover, the RSI indicator has already started a bearish wave, which suggests that the selling pressure may be increasing. Based on these technical signals, it is likely that the price line of NZDCAD may continue to move downwards in the near future. Traders may consider monitoring this pair closely and look for potential short-selling opportunities if the bearish momentum continues.
• There is a resistance level at 0.84900 followed by resistance at 0.85000 and 0.85140.
• There is a support level 0.84666. Below, there is 0.84525 and 084444.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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