NZD/CAD - Long Pin Bar Candle At The Resistance
FxGrow | Mar 31, 2016 06:42AM ET
NZD/CAD
Yesterday in NZD/CAD, an interesting daily candle occurred. Demand was punished for too rapid attempt of rebound and on the chart pin bar candle occurred with a long upper shadow. Shadow of that candle tested resistance at 0.9050.
It is likely that downward movement will be continued. 0.8820 handle may be tested or even current rebound may be finished. Right now it is a perfect moment for bulls to show strength because only breaking above March's high (area 0.9115) will allow the more optimistic view on further growth.
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