NZDCAD Trend & Momentum 16-Dec-2014

NZDCAD currently stays around 0.906. NZDCAD has hiked for the last week and reached the highest level 0.915 since the beginning of this month.

The trend and momentum indicates NZDCAD could turn into downward trend in a coming week targeting around 0.880 the lowest level for last two weeks.

Some market analysts say that RUB has been sold massively due to the crude oil price going down remarkably, and the currencies of countries with plenty of natural resources, such as CAD, AUD or emerging currencies have been weak against other major currencies. It implies CAD is still under the uncertainty of fundamentals factor though the signal indicates NZDCAD downward trend.


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