NZD/CAD hits 0.8887 (2-mth low), short below 0.8874 (dbl btm)

NZD/CAD has broken below strong trendline support at 0.9075 and hit fresh 2-month lows at 0.8887 in today's trade.

Next support for the pair lies at 0.8874 (double bottom), breaks below could see downside upto 0.8780 levels.

Techs point further downside, RSI and MACD are biased lower. Price action well below the cloud and we see a 5-DMA bearish crossover on 10-DMA.

Good to take fresh shorts only on breaks below 0.8874, SL: 0.8950, target: 0.8850/0.88/0.8730