NZDCAD: Critical moment

NZDCAD, Weekly

In the Weekly timeframe, NZDCAD fell to the trend line in a long-term bullish move. Despite the rise, a divergence has formed on the MFI, and Momentum has fallen below 100.0, which makes two scenarios possible:

• If the price breaks the trend line below 0.8200, it will reach 0.8060;

• A rebound from the trendline will bring NZDCAD back to 0.8370;