NZD/CAD May Continue Falling

Last week, prompted by the fundamentals, the NZD/CAD pair formed a clear whipsaw on the four-hour time-frame, but once that was done it also formed a hanging man candlestick on the same time-frame at 0.9200 and firmly began moving to the downside. This week this movement continued and the pair may even be breaking out below the (MA)89 indicator on the four-hour time-frame too. If that happens the pair may continue falling towards its last low, which is at 0.9090. A breakout below that level in turn could lead to another move to the downside towards the next support level, which is likely at 0.9000.