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NZD/CAD – Long Pin Bar Candle At The Resistance

NZD/CAD – Long Pin Bar Candle At The Resistance

NZD/CAD

Yesterday in NZD/CAD, an interesting daily candle occurred. Demand was punished for too rapid attempt of rebound and on the chart pin bar candle occurred with a long upper shadow. Shadow of that candle tested resistance at 0.9050.

It is likely that downward movement will be continued. 0.8820 handle may be tested or even current rebound may be finished. Right now it is a perfect moment for bulls to show strength because only breaking above March’s high (area 0.9115) will allow the more optimistic view on further growth.

NZD/CAD Daily Chart

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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