NZDCAD is showing signs of bearish continuation after retesting a Fair Value Gap (FVG) on the higher timeframe. Price previously broke down, leaving behind an imbalance, and has now retraced to fill that gap. The reaction from this level suggests the FVG acted as a strong supply zone, with sellers stepping in to defend it. Additionally, the rejection candle formed at the FVG aligns with a lower high structure, reinforcing the bearish sentiment. If momentum continues, we could see further downside targeting recent lows or liquidity resting below previous swing points.
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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.