The NZDCAD moves to the bearish track – Forecast today – 29-3-2024

The NZDCAD pair surrendered to the negative pressures represented by 0.8252 level forming solid barrier and the stability of the MA55 near it, to notice forming strong negative waves to form the double top pattern by declining below the neckline at 0.8145 and target some negative stations by reaching 0.8074.

In addition, we notice stochastic consolidation within the oversold areas, to increase the negative pressures on the current trades and allow us to suggest more negative attempts, to target 0.8030 followed by reaching the next negative target at 0.7940.

Expected Trading Range for Today:

• Between 0.8110 and 0.8030

Trend Forecast:

Bearish