NZDCAD - NEXT MOVE - COT REPORT - SEASONAL DATA

As we can see we have experienced some bearish pressure from NZD over the last two weeks. Taking a close look at the current price4 action on our charts we can see that there are signs of possible movements to the downside. Looking at last week's COT Report we can see that there have been increased short orders for both CAD and NZD. Seasonal data usually shows us steady growth in value for the NZD and we are yet to see this.

The constant testing of the current resistance level could indicate a possible push to the upside.

Plan of action - Keep a close eye on current price action at this level.