NZDCAD TECHNICAL ANALYSIS ON H4 TIMEFRAME
Remember the symmetrical triangle play that we spotted a few days back? Well, price has broken the pattern! Not only that, but it’s now retesting the broken resistance level.
Are we looking at a break-and-retest play in the making? Buying at the earliest signs of bullish momentum would get you in at a good spot especially if you place your stop losses just below the broken resistance and NZD/CAD pops back up to its .8500 highs.
If you’d rather sell NZD/CAD, however, then you might want to wait until the pair breaks below its current consolidation.