Trade Setup: NZD/CAD Open For Further Upside

Trade Setup: NZD/CAD Open For Further Upside

From earlier posts, EUR/NZD and AUD/NZD Trade setups reached full targets, while Palladium stopped out.

Trade Setup: NZD/CAD Broke Resistance and Ready to Rise

NZDCAD Trade Setup Daily Nov 25
NZDCAD Trade Setup Daily Chart Nov 25

The NZD/CAD has just completed a rounding bottom following the breakout above its neckline and key resistance at the 0.8495 area.

Meanwhile, the price has established a series of higher highs and higher lows since the mid-October low. And also taken its short to the medium-term falling trend line.

I am looking for further upside towards the next resistance at 0.8625 as a first target. Followed by the 200-day simple moving average also around the potential horizontal resistance at 0.8702.

Trade with care
Technician

Lu'ay Af.
Written by
Lu'ay Af.
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