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NZD/CAD: another bearish candidate

NZD/CAD: another bearish candidate

Information is not investment advice

Key indicators

Performance in 2020: -5%

Last day range: 0.8257 – 0.8482

52-week range: 0.8015 – 0.9281

What’s happening?

NZD/CAD trades at 0.8349, testing the lows of Summer-2019, -2018, and -2015. The support for all is at 0.8237. Crossing this strategic threshold paves the way to the 7-year low of 0.8032. Given the current situation for the NZD and its heavily increased volatility, it is not unreasonable to factor in this level for the bearish expectations.  

Technical levels

Resistance 0.8500

Support 0.8237

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