#NZDCAD 1DAYThe **NZDCAD** currency pair on the 1-day chart is showing an **uptrend breakdown**, signaling a potential reversal from its previous bullish momentum. After a prolonged upward movement, the price has failed to maintain its higher highs and higher lows structure, indicating weakening bullish strength.
The pair has likely breached a key support level or trendline, confirming the **breakdown** of the uptrend. This breakdown suggests that sellers are gaining control, and further downward pressure may follow. Traders may anticipate a shift towards bearish momentum and a **sell** opportunity, targeting lower price levels.
Key points to consider:
- The breakdown of the uptrend is confirmed by the breach of support.
- Momentum indicators may show bearish divergence or a shift in direction.
- Conservative traders might wait for a retest of the broken support before entering a sell trade.
The overall forecast points towards further declines in the short to medium term.