NZD - Weak Bearish
1️⃣ A negative market environment can depress high-beta currencies such as the NZD.
2️⃣ The NZD was also weighed down by weak economic data from China on Wednesday.
CAD - Weak Bullish
1️⃣ Rising crude oil prices can support the strength of CAD.
2️⃣ The annual inflation rate in Canada accelerated to 4.1% in August of 2021 from 3.7% in July and compared to market forecasts of 3.9%.
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Technical
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We are looking to sell NZDCAD if the price breaks the support area.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ A negative market environment can depress high-beta currencies such as the NZD.
2️⃣ The NZD was also weighed down by weak economic data from China on Wednesday.
CAD - Weak Bullish
1️⃣ Rising crude oil prices can support the strength of CAD.
2️⃣ The annual inflation rate in Canada accelerated to 4.1% in August of 2021 from 3.7% in July and compared to market forecasts of 3.9%.
=====
Technical
=====
We are looking to sell NZDCAD if the price breaks the support area.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.