Recent market activity has witnessed the NZDCAD pair endeavoring to stage a corrective bullish rebound, propelling its trajectory towards 0.8055. However, this ascent does not suffice to alleviate the negative pressures looming over the pair. The challenge persists due to its continued consolidation beneath the 0.8080 resistance threshold, which remains in effect. Compounding this situation is the sustained presence of unfavorable momentum propelled by key indicators.
Should the ongoing fluctuations remain subdued below the prevailing resistance, it would provide grounds to entertain expectations of further downward maneuvers. Such a scenario may usher in a trajectory aimed at the 0.7980 level in the near term. Notably, breaching this hurdle would potentially extend the scope of losses, directing the pair towards the 0.7930 level as the subsequent primary target for bearish trades.
The projected trading span for today is delineated by the range encompassing 0.8080 as the resistance and 0.7980 as the support.
Anticipated market direction for today aligns with a bearish disposition.