FxWirePro: NZD/CAD consolidates break below 200-SMA, 'Shooting Star' formation keeps scope for weakness

NZD/CAD chart - Trading View 

• NZD/CAD is extending weakness for the 2nd straight session.
   
• The pair is trading 0.14% lower at 0.9106 at 0800 GMT, intraday bias bearish.
   
• Technical indicators on daily charts are turning bearish. Stochs are on verge of rollover from overbought levels.
   
• The pair has formed a 'Shooting Star' pattern on the daily charts which raises scope for weakness.
   
• We see immediate support at daily cloud at 0.9082. Break into cloud will see extension of weakness.
   
• Price is consolidating dip below 200-SMA. Retrace above could see minor upside. 

Support levels - 0.9082 (cloud top), 0.9076 (21-EMA), 0.9039 (55-EMA)

Resistance levels - 0.9108 (200-hour SMA), 0.9132 (5-DMA), 0.9197 (Mar 12 high)

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