NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.8835, 0.8913, 0.8988
Key Support Levels: 0.8750, 0.8641, 0.8600
The price on the higher time frame failed to break a key strong support around the 0.8750 USD mark which could lead to a reversal to the upside. Momentum is changed from the negative to positive and this is seen by the latest bars.
NZD/CAD Medium-Term Trend: Bullish
On the lower time frame, the asset was traded inside a bearish channel formation where it managed to break it to the upside after an accumulation phase where it helped to bring back liquidity. A lower correction could be seen to the highlighted zone before a new impulsive wave to the upside.
Buy Limit Order @ 0.87795
TP 1 @ 0.88120
TP 2 @ 0.88350
Stop Loss @ 0.87635
Trade Safely 🙂