- NZD/CAD is extending downside from 4-month highs of 0.9297 hit on Friday.
- The pair has slipped below 5-DMA and is currently trading around 0.9178 levels.
- Recovery attempts were capped by 5-DMA at 0.9198 which is strong resistance on the upside.
- Price action is moving away from upper Bollinger Band and Stochs are showing a rollover from overbought zone.
- Downside finds support at 0.9139 (June 27th low), 0.91 and the 0.9060 (June 20th low).
Recommendation: Good to sell rallies around 0.9190, SL: 0.9260, TP: 0.9140/ 0.91/ 0.9060
The material has been provided by InstaForex Company – www.instaforex.com