NZDCAD Technical Analysis: Bullish Trend Remains Intact
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.
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.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.