NZD/CAD 4H Chart: Channel Down

As a correction in the direction of the channel's upper boundary has been successfully completed, a sell-off is returning back on the table. Despite the monthly pivot point at 0.9798, which is emerging as the closest support line for NZD/CAD pair right now, the Kiwi will probably get a tougher bearish momentum from the 200-period SMA placed above the present spot price at 0.8851. Daily and weekly technical indicators are negative too. Short-term studies are still bullish, meaning the pair is not ready to give up easily and immediately begin a slowdown. The key bearish area to watch is located at 0.8560, namely the green downtrend, monthly S1 and weekly S2. SWFX sentiment is 52% short.