USD: technical outlook
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
NZD/CAD: another bearish candidate
Key indicators
Performance in 2020: -5%
Last day range: 0.8257 – 0.8482
52-week range: 0.8015 – 0.9281
What’s happening?
NZD/CAD trades at 0.8349, testing the lows of Summer-2019, -2018, and -2015. The support for all is at 0.8237. Crossing this strategic threshold paves the way to the 7-year low of 0.8032. Given the current situation for the NZD and its heavily increased volatility, it is not unreasonable to factor in this level for the bearish expectations.
Technical levels
Resistance 0.8500
Support 0.8237
Gaspar Markosyan
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