NZDCAD on H4 chart reached key resistance at 0.9521 where there are Murrey 8/8 line. This level coincides with daily 6/8 line and weekly and monthly 7/8 line. On the chart below you can see that despite few tries of breaking the resistance it managed to stop bulls and price started to consolidate.

2110-nzdcad

Let’s take a look at H1 chart, we can see break out of consolidation after breaking lower bound at 0.9491. We expect further declines, the closest target is at 0.9460 – 6/8 line form H4 chart and next one 0.9430 – 5/8 from H4 chart.

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2110-nzdcad-h1

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