NZD/CAD sell off coming soon?
Prior State: Long-term downtrend since June 2017 has been in effect will multiple countertrend rallies.
Current State: Price has stalled with multiple bearish reversal candles at prior resistance near .9150.
Future Forecast: Resistance at .9150 will hold and with any rise in Crude Oil prices momentum will turn to the downside. Below .8925 will confirm a change in trend and create a short opportunity.
Current State: Price has stalled with multiple bearish reversal candles at prior resistance near .9150.
Future Forecast: Resistance at .9150 will hold and with any rise in Crude Oil prices momentum will turn to the downside. Below .8925 will confirm a change in trend and create a short opportunity.
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Price now lower on "risk-off" news from China. Very negative for NZD.