NZDCAD - Short Sentiments + Bearish Divergence

The NZDCAD pair is currently showing signs of a bearish divergence, indicating a potential downward movement in price. This technical analysis suggests that despite previous upward trends, the momentum is weakening, and prices might start to decline. Additionally, there is a significant bearish sentiment among traders, with 93% leaning towards short positions. This overwhelming preference for shorting suggests that the market expects the NZDCAD to decrease in value. Together, the bearish divergence and high short sentiment point towards a potential drop in the NZDCAD pair, making it a subject of interest for traders anticipating market movements.