The pair has been oversold last week as a result of RBNZ news and its currently trading around the psychological line of 0.90 there is a lot of confirmation from the major pairs as NZD is oversold and reached critical support area
near 0.6740 and oil
prices are overbought and expected to drop
within the week. USDCAD
follows an upward trend. There is a clear rejection on the 4hr timeframe with a long wig
and it touches perfectly with the 4hr trend line!