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- NZD/CAD rejected at 0.9276, finds major support by 50-day MA at 0.9274.
- We see weakness only on break below 50-DMA, pair could then test next major support at 0.9083 (July 21 low).
- On the upside we see major trendline resistance at 0.9316, pair is struggling at trendline from a couple of sessions.
- We see upside traction only on breakout above. Next hurdle above 0.9316 located at 0.9350 (20-DMA).
- Momentum studies are neutral for now, bias is lower.
Recommendation: Watch out for break below 50-DMA at 0.9274, short break for a target of 0.9150/ 0.9083.
