Hi traders,
Here's a possible sell opportunity in NZD/CAD. The pair has been in a nice downtrend for a longer period now, and is currently trading at a major resistance level near the 0.88 round-number. The resistance also aligns with the 61.8% Fib level.
Positioning data and recovering oil prices support a sell as well.
Here's a chart of current 2y yield differentials which are pointing lower, so the price might have to catch up with the divergence.
Please hit the "LIKE" button to support our free work. Thanks!
Here's a possible sell opportunity in NZD/CAD. The pair has been in a nice downtrend for a longer period now, and is currently trading at a major resistance level near the 0.88 round-number. The resistance also aligns with the 61.8% Fib level.
Positioning data and recovering oil prices support a sell as well.
Here's a chart of current 2y yield differentials which are pointing lower, so the price might have to catch up with the divergence.
Please hit the "LIKE" button to support our free work. Thanks!
