NZD/CAD awaits for bullish momentum

NZD/CAD awaits for bullish momentum

NZD/CAD is doing a consolidation between the demand zone of 50% and 65% in 0.8805 and 0.8770, at which we could expect a bulls’ gathering in order to resume the rebound. If that happens, the pair could target the -23.6% Fibonacci level of 0.8979 at -23.6%. To the downside, with breakout below 0.8770 doors could be opened to test October 25th lows.

RSI indicator remains in the neutral territory, calling for sideways.

NZDCADmH1.png

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