NZD/CAD: Bullish Reversal Expected at Key Support Area.

The rising interest rates in New Zealand are posing significant challenges for the country's farming industry. Today, the NZD/CAD currency pair hit the 0.85400 resistance area but then experienced a reversal as the CAD regained some value. As per the technical analysis, the value of the currency pair is currently approaching the previous support area within a bullish channel. The combination of the 61.8% Fibonacci retracement level, the dynamic trendline of the channel, and the support area suggests that this may be an opportune moment for the price to experience a pullback in the direction of the main trend.

Therefore, we are currently seeking an entry point around the support area to initiate a new long bullish impulse. This approach is supported by our analysis of the market trends and indicators, which indicate that the NZD/CAD currency pair has the potential to appreciate in the near future. Overall, while the current economic conditions in New Zealand are challenging, there are still opportunities for investors to capitalize on the market's movements and achieve profitable outcomes.