The New Zealand-Canadian short-term pair

At the basic level

The new Canadian pair rose during today's trading on Monday for the second day in a row, in light of the scarcity of economic data from Canada and New Zealand today.

We are waiting for employment and unemployment data from the New Zealand economy on Wednesday, and also on Friday we will have Canadian employment and unemployment data from Canada and expectations of better results than the previous month by adding more than 24 thousand jobs.

At the technical level

The New Zealand-Canadian pair rose today, trying to reach the supply levels shown on the chart near the levels of 0.8270 to 0.8310, from which we can sell the pair.

Also, we can start selling the pair from the current prices due to the presence of a negative trend for the MACD indicator on the four-hour time frame.

We are currently targeting the levels of 0.8150 as an initial target and then 0.7970 on the pair.

This scenario fails if the pair breaks through the levels of 0.8340.