The NZDCAD price maintained its negative stance below the resistance line of the bearish channel at 0.8320, confirming a continuation of the bearish trajectory for upcoming trading sessions. Additionally, the consolidation of the MA55 above the major resistance reinforces the prevailing negative sentiment, with expectations leaning towards a gradual decline towards support levels around 0.8280, followed closely by 0.8250.
Stochastic indicators on the chart indicate a position below the 50 level, suggesting potential for gathering further negative momentum to reach the aforementioned downside targets.
Today’s anticipated trading range is projected between 0.8315 and 0.8280.
Trend Forecast: Bearish
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