NZDCAD: Short-Term Bearish Outlook
Today, Canada will release its employment data. Analysts expect job numbers to rise by 2.5k, compared to last month’s sharp decline of -32.6k. The unemployment rate is also expected to edge up slightly to 6.8% from 6.7%.
If the job report shows improvement, it could strengthen the bearish momentum for NZDCAD.
From a technical perspective, NZDCAD has broken out of a triangle pattern, signaling increased downside pressure. The employment data could act as a catalyst for further movement.
Key levels to watch:
0.8160 – A strong zone where price might find support
0.8130 – The next target if the bearish trend continues
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Today, Canada will release its employment data. Analysts expect job numbers to rise by 2.5k, compared to last month’s sharp decline of -32.6k. The unemployment rate is also expected to edge up slightly to 6.8% from 6.7%.
If the job report shows improvement, it could strengthen the bearish momentum for NZDCAD.
From a technical perspective, NZDCAD has broken out of a triangle pattern, signaling increased downside pressure. The employment data could act as a catalyst for further movement.
Key levels to watch:
0.8160 – A strong zone where price might find support
0.8130 – The next target if the bearish trend continues
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.