NZDCAD → Intra-range trading. Retest of resistance

5月7日

NZDCAD is strengthening within a neutral trading range. The currency pair is supported by the dollar's correction, but how long will this last? Ahead of us are the FOMC meeting and Powell's speech...



The focus is on the trading range within which the currency pair continues its local trend. Liquidity around the 0.8317 level is attracting the price. The correction of the dollar is having a positive effect on the NZD. However, news is ahead, and traders are expecting a hawkish stance from the Fed. Against this backdrop, a reversal may occur...
Since the currency pair is in a neutral range, there is a high probability of a false breakout and correction.

Resistance levels: 0.83175
Support levels: 0.82644, 0.8235, 0.8225

The liquidity zone is likely to stop the price (temporarily or reverse it). Further movement depends on fundamental sentiment, but based on rumors about the Fed's position, it is worth carefully analyzing what data the market will receive this evening. A tougher Fed policy or hints of one could strengthen the dollar and weaken currencies...

Best regards, R. Linda!

5月8日

取消訂單

The news had an impact
The price broke the trend without reaching our trigger