Weekly charts show that downtrend for the pair is intact and we see scope for tests of 85.85 in the medium-term.
Technical indicators on are biased lower, Stochs and convergence seen with price action.
On the fundamental side, analysts feel oil prices have bottomed out and will gradually edge higher to trade in the $40-$50 range in the medium-term.
Rising oil price and improving macro-economic conditions in the U.S. is likely to keep the Loonie supported.
NZD outlook is biased to the downside, but we do not see an imminent catalyst, particularly with local data still robust
Go short NZD/CAD on break below 0.8775, SL: 0.8850, TP: 0.8715/0.8685/0.8630