A very strong NZDCAD channel is in play.
Even though the NZDCAD is in a strong, well respected channel does not mean that the pair is not prone to an upside breakout. With China/US trade negotiations in full swing (NZD influence) and congress about to deliberate USMCA trade agreement (CAD influence) there is a risk for a breakout higher as well. However, from a risk/reward perspective, as long ass we are below the recent 78% retracement at .9191 the play is for a short currently.
Blake Morrow
