By: Investija
Bears have initiated downtrend movement after a breakout and M pattern formation, bears did manage to breakout at support barrier 1.3656. Sharp slide downside is still continued. Negative trend remains active, while trend line is valid – short term selling possibilities are better options for now. Low trading range formation is expected.
USDCAD bulls did manage to recover after bears declined price. Resistance barrier remains at 1.0184, while this level holds, bulls movement is limited. Just above resistance, bulls can get their confidence back. According to the current negative trend, bears have more potential to extend their movement further downside. At the moment waiting action is better option with selling possibilities.
NZDUSD currency pair bears declined the price in last hours and positive trend became neutral situation. Bulls have lost all their strength, whereas bearish side goal sits at 0.6965, where bears can get stronger and more active. Below this barrier, selling options can be considered and negative trend initiated.
