The NZDCAD tests the resistance – Forecast today – 10-5-2024

Economies.com
2024-05-10 07:11AM UTC

NZDCAD Price Analysis

1. Expected Scenario

  • NZDCAD price faces strong positive pressures from recent stochastic rally.
  • Correctional bullish rebound tests 0.8256 resistance again.
  • Scenario depends on strength of resistance.
  • Expectation of forming strong negative waves if resistance holds.
  • Targets at 0.8205 and 0.8172 levels if resistance holds.
  • Breaching resistance confirms move to bullish track, targeting 0.8290 and 0.8345.

2. Expected Trading Range

  • Anticipated trading range today: Between 0.8255 support and 0.8205 resistance.

Trend Forecast: Bearish

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