NZD/CAD chart - Trading View
NZD/CAD has paused downside at 0.87 handle, bias remains bearish.
The pair has turned lower after 'Triple Top' formation and is verge of forming a big M pattern.
Price action has broken below 200-DMA and is on track to test 61.8% Fib at 0.8688.
Volatility is rising (Bollinger Bands are widening), major moving averages are biased lower.
Break below 61.8% Fib will see weakness till 78.6% Fib at 0.8527.
Immediate resistance lies at 5-DMA at 0.8754. Bearish invalidation above 200-DMA.
Support levels - 0.8688 (61.8% Fib), 0.86, 0.8527 (78.6% Fib)
Resistance levels - 0.8754 (5-DMA), 0.88 (50% Fib), 0.8889 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
