The NZDCAD pair has halted its recent decline, and it’s showing signs of a positive correction as it managed to close above the key support level at 0.7930. This rebound is being supported by positive momentum in the stochastic indicator, pushing the price toward the 0.8075 mark.
For this bullish trend to gain strength, we’d need to see the price achieve more positive closes above the 0.8025 level. This could pave the way for further gains, targeting the MA55 around 0.8125, and an attempt to overcome the 0.8190 resistance barrier, which would solidify the bullish outlook in the days ahead.
The expected trading range for today is between 0.8030 and 0.8125.
Today’s expected trend: Bullish