NZDCAD: WEEKLY SCENARIO – 09 February 2022

NZDCAD Technical Analysis: Weekly Chart

NZDCAD Technical Analysis

In the weekly charts, NZDCAD is trading in a down channel.

It is trading below all SMA.

The immediate support is 0.8390 & the resistance level is at 0.8549.

NZDCAD is trading in the down-channel until there is a trend reversal

NZDCAD Technical Analysis: Daily Chart

NZDCAD Technical Analysis

In the daily charts, NZDCAD is trading in an up channel.

It is trading above 20 days SMA & below 50 and 100 days SMA.

The immediate support is 0.8452 & the resistance level is 0.8510.

NZDCAD is trading in the up channel until there is a trend reversal.  

How to Trade NZDCAD this Week:

NZDCAD will follow the downtrend until their trend reversal. So, remain bearish on NZDCAD.

TRADE SUGGESTION- SELL AT 0.8481, TAKE PROFIT AT 0.8452 AND STOP LOSS AT 0.8510

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