NZDCAD Posts Outside Day Reversal

nzd/cad

Technical Outlook

  • NZDCAD posts outside-day reversal off long-term resistance confluence- bearish
  • Interim support at highlighted region into 8700- Break to mark larger correction lower
  • Subsequent support objectives at 8605 & 8535
  • Key resistance 8905/38 – bearish invalidation
  • Event Risk Ahead: Bank of Canada (BoC) Interest Rate Decision tomorrow, Retail Sales on Thursday and Canada Consumer Price Index (CPI) on Friday
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