FxWirePro: NZD/CAD Near-Term Outlook

NZD/CAD chart on Trading View used for analysis 

• NZD/CAD breaches cloud support and extends weakness for the 3rd straight session.
   
• Antipodeans hit by the latest report that the US-China trade talks could be delayed, in light of the US shutdown.
   
• Canadian Finance Minister Bill Morneau was on the wires late-Wednesday, said that Brexit not a problem for Canada.
   
• Technical indicators are bearishly aligned in the near-term. Scope for further weakness.
   
• Price action has broken below 55-EMA and is on track to test 200-DMA at 0.8883.
   
• On the weekly charts the pair is edging lower from upper Bollinger Band. Is holding support at 0.8930 (55W EMA).
   
• Break below 200-DMA to see further weakness. While on the flipside, break above 20-DMA to see minor upside.

Support levels - 0.8922 (110-EMA), 0.8883 (200-DMA), 0.8789 (cloud base)

Resistance levels - 0.8989 (55-EMA), 0.9020 (5-DMA), 0.9035 (23.6% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.