21/07/2017
Lifestyle Tips: Investment
NZDCAD has been steadily trending lower since July 1. From the charts, the pair is in the red for the 4th successive week, with sentiments still majority short. Technical studies on weekly charts support downside, even though RSI is currently above 50 levels. A descending triangle is a bearish pattern, so our main directional bias is to the downside. Watch out for break below 0.9280 to go short. Take Profit at 0.9112/ 0.9055. The only chance that the Bulls will dominate the market is if they breach 0.9400. In that case, you could set Stop Loss at 0.9350
Potential Catalysts for Trade: Canada Core CPI (MoM) (June) (8:30 AM ET). Canada Core Retail Sales (MoM) (May) (8:30 AM ET).