NZD/CAD hits 1-year low. What's next?

Hi traders. Here's the daily chart of the NZD/CAD pair that shows a 1-year low reached on Friday.

The pair has found some buying pressure this week, which has sent the price retesting a horizontal resistance level around the mid 0.83s.

We could also see a retracement to the 61.8% Fib level, which aligns with a falling trendline, before continuing to the downside.

We're watching this pair and will wait for a confirmation to make a trading decision. Stay tuned for a trading signal in our Trading Club.