NZDCAD DAILY 11/17/19
NZDCAD SHORT IDEA
Overall higher time-frame analysis shows that price action has been majorly bearish
Current price action is near the daily 38.2% fib level as well as a weekly resistance level around 0.8500
To support our bearish sentiment we would like to see strong bearish setups coming from the current level and pushing down toward 0.83500
Upon a break and retest of the 0.83500 level we will target toward our monthly support around 0.82500 followed by a target toward our daily -27% fib level near 0.80600
If price action breaks the 0.8500 look for price to reach the daily 61.8% fib level around 0.86300
Overall higher time-frame analysis shows that price action has been majorly bearish
Current price action is near the daily 38.2% fib level as well as a weekly resistance level around 0.8500
To support our bearish sentiment we would like to see strong bearish setups coming from the current level and pushing down toward 0.83500
Upon a break and retest of the 0.83500 level we will target toward our monthly support around 0.82500 followed by a target toward our daily -27% fib level near 0.80600
If price action breaks the 0.8500 look for price to reach the daily 61.8% fib level around 0.86300
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