NZDCAD at the beginning of a New Trend

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NZDCAD at the Beginning of a New Trend

NZDCAD reached its lowest price at the end of July 2024, near 0.8120. Since then, NZDCAD has been in a bullish trend for exactly two months. However, in the last two days, the price has decreased significantly by nearly 200 pips, influenced by Powell’s comments and the ongoing conflict between Israel and Iran.

Given this recent movement, the odds are high that we are at the beginning of a new trend. We might see NZDCAD make some corrections before potentially moving down further to 0.8300 and 0.8200.

You may find more details in the chart 📉

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