The NZDCAD begins to decline – Analysis – 22-8-2019

The NZDCAD price didn’t find a scape from renewing the negative attempts, due to its repeated stability within the bearish channel levels, besides forming an extra barrier at 0.8610 level as appears in the above image, noticing the price move to the downside by recording 0.8482 level, which represents the initial negative target of the bearish bias.

Providing a new negative momentum by stochastic by reaching 20 level, makes us expect forming a new bearish attack, to target 0.8405 level reaching to the main support at 0.8390.

The expected trading range for today is between 0.8530 and 0.8405

The expected trend for today: Bearish