FxWirePro: NZD/CAD breaks below daily cloud, eyes 200-DMA at 0.9065, good to short rallies

• NZD/CAD edges higher from 10-week lows at 0.9101, bias bearish.
   
• The pair has broken below daily cloud and 100-DMA, on track to test 200-DMA at 0.9065.
   
• Price action has broken below 20W SMA at 0.9163, close below will see further weakness.
   
• Technical indicators on weekly charts have turned bearish. RSI has slipped below 50 and Stochs are sharply lower.
   
• Next major support lies at 200-DMA at 0.9065. Violation there will see test of 61.8% Fib at 0.8976.
   
• On the flipside, retrace above 110-EMA 0.9181 could see minor upside. Bearish invalidation only above daily cloud.

Support levels - 0.9080 (50% Fib), 0.9065 (200-DMA), 0.8976 (61.8% Fib)

Resistance levels - 0.9170 (5-DMA), 0.9181 (nearly converged 38.2% Fib & 100-DMA), 0.9198 (cloud base)

Recommendation: Good to go short on rallies around 0.9125/35, SL: 0.9185, TP: 0.91/ 0.9065/ 0.9020

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