FX.co ★ Daily Video Analysis: NZDCAD approaching support, potential for a bounce!

Today we take a look at NZDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is approaching the buy entry, which is in line with 127.2% Fibonacci extension and horizontal swing low support, where we could see a bounce and further rise towards the take profit level, which is in line with 61.8% Fibonacci retracement and descending trendline resistance. RSI is also approaching the lower support where it has reacted off before, showing signs of bullish pressure in line with our analysis.