NZDCAD Will Go Down! Short!

Here is our detailed technical review for NZDCAD.

Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a key horizontal level 0.805.

Considering the today's price action, probabilities will be high to see a movement to 0.803.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

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