NZDCAD is trading in a bearish trend for quite a while.
Recently the price has set a new local low.
Now we see a retracement and retest of the previous one that now turned into resistance.
On hourly the price formed a double top pattern within a resistance cluster.
To short wisely, wait for a breakout of 0.8968 minor support.
Then the price will most likely drop.
In case of a bullish violation of the underlined zone, setup will be invalid.
Note
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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.