NZD/CAD short setup
Technical Analysis: Bias Bearish
- Price action has broken below 200-DMA
- RSI shows strong bearish bias, below 30 levels
- -ve DMI dominance and ADX rising in support
- MACD well below zero levels
Support levels - 0.8976 (61.8% Fib), 0.8859 (Jan 5 low), 0.8829 (78.6% Fib)
Resistance levels - 0.9043 (5-DMA), 0.9058 (200-DMA), 0.9080 (50% Fib)
Good to go short on rallies around 0.9010/20, SL: 0.9070, TP: 0.8980/ 0.89/ 0.8860
- Price action has broken below 200-DMA
- RSI shows strong bearish bias, below 30 levels
- -ve DMI dominance and ADX rising in support
- MACD well below zero levels
Support levels - 0.8976 (61.8% Fib), 0.8859 (Jan 5 low), 0.8829 (78.6% Fib)
Resistance levels - 0.9043 (5-DMA), 0.9058 (200-DMA), 0.9080 (50% Fib)
Good to go short on rallies around 0.9010/20, SL: 0.9070, TP: 0.8980/ 0.89/ 0.8860
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