NZDCAD reached key resistance: Rebound to 0.82450 likely
Price on NZDCAD has reached a pretty significant resistance level, that has been a key turning point in the past, with several strong reversals from the area. So naturally, I’ve been watching to see how price reacts here again.
We can already see early signs of rejection, so I will monitor this pair and I’ll be looking for short setups from the zone again.
🟥 My sell idea is based on the expectation that this resistance will hold. I would be targeting a move down toward the 0.82450 level, which I feel is a realistic target before any reversal could take from the gains, especially if price respects this structure continuously.
But if price breaks above and starts holding strong above the zone, then I’ll back off the bearish bias and reassess, and I’d consider the bearish idea invalidated, with potential for further upside.
Just sharing how I see the chart right now, not financial advice
We can already see early signs of rejection, so I will monitor this pair and I’ll be looking for short setups from the zone again.
🟥 My sell idea is based on the expectation that this resistance will hold. I would be targeting a move down toward the 0.82450 level, which I feel is a realistic target before any reversal could take from the gains, especially if price respects this structure continuously.
But if price breaks above and starts holding strong above the zone, then I’ll back off the bearish bias and reassess, and I’d consider the bearish idea invalidated, with potential for further upside.
Just sharing how I see the chart right now, not financial advice
Trade active
Free Telegram Signals: t.me/addlist/MLJjjTl2V-M1OTc8
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 I trust Blueberry Funded. Get Funded here: 25 OFF with link - bit.ly/bestfunded
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 I trust Blueberry Funded. Get Funded here: 25 OFF with link - bit.ly/bestfunded
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.
Free Telegram Signals: t.me/addlist/MLJjjTl2V-M1OTc8
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 I trust Blueberry Funded. Get Funded here: 25 OFF with link - bit.ly/bestfunded
👉 I recommend this Broker - Get 20% Deposit BONUS - bit.ly/trenddiva
👉 I trust Blueberry Funded. Get Funded here: 25 OFF with link - bit.ly/bestfunded
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.