Based on the historical range of NZDCAD going back 30+ years, it may be a good time to start looking for shorts, whether intermitently selling at peaks or sustaining a long term short position. Cycles over previous decades have spanned 4-7 years, we're currently at the 8 year mark since the last low at the long term range was created in the beginning of 2009.
Keep in mind, this is a very long term outlook so there will be noise but I do not expect the pair to break the 1.00 mark due to the monthly rejection highlighted on my chart and I certainly don't expect a break of the 1.0048 mark made by the pair in late 1996/early 1997.
A bearish cycle could bring the pair down to historical range bottom levels between 0.59 and 0.62
I apologize for the crude historical data line.
Keep in mind, this is a very long term outlook so there will be noise but I do not expect the pair to break the 1.00 mark due to the monthly rejection highlighted on my chart and I certainly don't expect a break of the 1.0048 mark made by the pair in late 1996/early 1997.
A bearish cycle could bring the pair down to historical range bottom levels between 0.59 and 0.62
I apologize for the crude historical data line.
