The NZDCAD price faced 50% Fibonacci correction level at 0.8375 during the recent bullish rally, to form solid obstacle against the bullish attempts and notice forming weak sideways trades by settling near 0.8360.
The frequent stability below the current barrier and stochastic attempt to exit the overbought areas might increase the negative pressures on the price, to start suggesting the negativity for the near-term period, which might target 0.8300 and 0.8280 levels.
The expected trading range for today is between 0.8370 and 0.8300
Trend forecast: Bearish
Origin: Economies
