Weekly technical analysis for New Zealand Canadian NZD-CAD

FXGLOBAL-MARKET: The New Zealand dollar is trading against the Canadian dollar, on the daily frame, in a downtrend in a major downward channel that bounced for the third time from the upper leg of the descending channel as shown in the above chart. Prices tend to fall due to the prevailing trend, but there is momentum Not strong buying may push the price to test the uptrend area with the previous peak at 0.8870 point. Selling from it at very good prices, we advise traders to maintain a suitable stop loss for their trades.

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