NZDCAD
NZDCAD Minor Forex Pair
Today, the NZDCAD pair is gradually approaching a daily demand zone. There was already a dip within this zone, but the price is now moving back down for another attempt. I appreciate the slow nature of this approach, as the current price action is weak compared to the aggressive move that initially created the demand zone. I'll switch to the 4-hour chart to observe the price action there.Â
The 4-Hour Chart
The price action on the 4-hour chart appears promising as it nears the demand zone. I've adjusted the demand zone to align with the 4-hour price action. Now, let's see how the price reacts to both the demand zone and the area of major low.
I will provide an update as soon as we observe more price action later in the day. Thank you for your attention.