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Mar 15, 2021 10:12 AM

NZDCAD H4 - Short Setup Short

New Zealand Dollar/Canadian DollarFXCM

Description

NZDCAD H4

Broken support with ease last week, seen a nice retest of the underside (now resistance). Looking for a confirmed second test or resistance. Based on order details supplied, another selloff down to the breakout low would still offer 1:3R.

A break in excess would send NZDCAD sinking, as long as we can maintain this CAD strength in line with it's supporting factors, WTI demand etc.
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