1] Price has broken massive horizontal support
2] It came back up for a retest to the key zone however it has rejected.
3] Price has been moving with momentum to the downside for about 6 days
1] If price breaks the upward neckline, this may comfirm movement downwards to the next support
Risk to reward is roughly 3.2R
For my free shorter term...
NzdCad has created a new low on the hourly with some room to go to the next support level, head and shoulders on the 5 min pullback and entry. Not the greatest setup and you can definitely play about with stops and targets on this setup.