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Short

NZD/CAD rejected at 100-DMA, 55-EMA break opens up downside

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
NZD/CAD attempts to break above 100-DMA have been rejected at multiple occassions since June 5th trade.
Price has now broken below strong support at 55-EMA which has opened up downside for the pair.
Technical indicators have also turned bearish . RSI below 50 levels, bias lower.
Stochs are sharply lower and MACD is on verge of a bearish crossover on signal line.
Next immediate support lies at 0.9058 (38.2% Fib). Break below could see weakness till cloud base.
On the upside, 5-DMA at 0.9133 is immediate resistance. Break above 100-DMA needed for meaningful gains.

Support levels - 0.9058 (38.2% Fib), 0.9006 (50% Fib), 0.8955 (61.8% Fib and cloud base)
Resistance levels - 0.9094 (55-EMA), 0.9131 (5-DMA), 0.9173 (100-DMA)

Good to go short on close below 55-EMA, SL: 0.9175, TP: 0.9060/ 0.90/ 0.8955
Comment: All targets hit

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Breaks below 200-DMA
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