Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
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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