NZD-CAD WEEKLY ANALYSIS

TECHNICAL ANALYSIS

Daily and weekly 8GAPS have been closed and price continuation south resumes. This week I’ll be targeting the 0.82000 magnet as a key area, but should it break and close beneath, a test of the lower trend level is likely.

FUNDAMENTAL ANALYSIS

BoC this week likely to hold rates unchanged at 1.75%. I doubt the BoC will cut rates until next year at this stage and therefore, would be expecting a certain degree of positivity from the currency. This will assist our NZD/CAD bear bias.