NZD/CAD 4H Chart: Channel Up

Outlook for the Kiwi against the Canadian Dollar is also quite positive for the moment. The pair was able to contain a correction by the pattern lower edge and, most importantly, by the 200-period SMA. Despite closing below the monthly pivot point for a short period of time earlier last week, the pair is now growing. Bullish expectations are reinforced by both technical studies and market sentiment. The former are bullish in short and long run, while the cross is oversold in the SWFX market, as 66% of all positions are bearish. Only a drop below 0.9274 can cause a deep selloff. However, the base scenario still expects a rise. The first major goal is 0.9576 (Dec high), followed by red line at 0.9765.