NZDCAD Technical Analysis: Bullish Trend Remains Intact

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Hello traders,

I can see that the NZDCAD pair is currently trading at 0.82634, maintaining a bullish trend as price action consistently forms higher highs and higher lows. After a temporary correction from Friday's high of 0.83107 to 0.82495, the pair appears to have resumed its upward trajectory, targeting a breakout above the previous high.

Key Observations
Trend: Bullish, with a series of higher highs and higher lows.
Momentum and Sentiment: Both indicators support the bullish outlook, reinforcing expectations for continued upside.

Key Levels:
Immediate Resistance: 0.83107 (Friday's high)
Invalidation Point: A break below 0.82428 would negate the bullish scenario and signal potential downside risk.

Conclusion
The overall outlook for NZDCAD remains bullish, with momentum and sentiment aligned for a continuation higher. A sustained break above 0.83107 would confirm the bullish trend, while a move below 0.82428 would call for a reassessment of this view.

Do let me have your take.
Cheers and happy trading.
Trade active
Outlook invalidated.
bullishtrendsChart PatternsharmonicforexHarmonic PatternsTechnical Indicatorsnzdcadlongsupportsupportzones

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