NZDCAD: Short-Term Bearish Outlook

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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!
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