NZDCAD has just tapped into a strong daily supply #orderblock which led to a mini selloff in price about a month ago. I expect that orders are still pending in the daily order block or market-makers would like to mitigate some orders. With this at play, I expect a selloff in the 1hour timeframe.
Although I have a longer-term bullish bias on the pair based on the weekly and monthly timeframes, we would be taking each move as they come.
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