NZDCAD is facing bearish pressure from descending trendline resistance. Prices might face resistance from 1st resistance which coincides with 100% fibonacci extension and 61.8% fibonacci retracement. Prices might push towards 1st support level which coincides with 61.8% fibonacci extension and -68% fibonacci retracement. If prices push past 1st resistance, prices might face resistance from 2nd resistance which coincides with 127.2% fibonacci retracement. EMA is also above prices, showing bearish pressure.
Trading Recommendation
Entry: 0.89592
Reason for Entry:
Horizontal pullback support, descending trend line resistance, 100% fibonacci extension, 61.8% fibonacci retracement
Take Profit: 0.88913
Reason for Take Profit:
61.8% fibonacci extension, -68% fibonacci retracement
Stop Loss: 0.89916
Reason for Stop Loss:
Horizontal swing high resistance, 127.2% fibonacci retracement