Looking at the Daily timeframe, NZD/CAD is currently trading at the lower band of a beautiful bullish flag, in addition to retesting the 50% Fibonacci Retracement level which is a critical weekly area.
On the 4H timeframe, we can see that the price is reaching the area mentioned above inside a falling wedge reversal pattern making our analysis more valid.
Our first target for this trade is 0.8292. Breaking this level will push the price for further price towards 0.8419, 0.8494, 0.8570, and 0.8670 in the long-run.
It's all, simply, price action analysis!
On the 4H timeframe, we can see that the price is reaching the area mentioned above inside a falling wedge reversal pattern making our analysis more valid.
Our first target for this trade is 0.8292. Breaking this level will push the price for further price towards 0.8419, 0.8494, 0.8570, and 0.8670 in the long-run.
It's all, simply, price action analysis!