NZD/CAD Price Analysis: Bulls look for a break of critical resistance

NZD/CAD is bullish on the longer-term charts.
The monthly and daily charts are in synch.

Ross J Burland FXStreet

NZD/CAD bulls are eying up an opportunity to the upside based on the confluence f the monthly and daily chart time frames and market structures.

The following is a top-down analysis that illustrates the prospects for a run towards a test of the 0.89 area.

Monthly chart

As can be seen, the price has pulled back into a deep Fibonacci retracement which creates a bullish prospect in an extension to the upside.

Daily chart

The daily chart offers the same price formation and market structure.

4-hour chart

From a 4-hour perspective, where the price can be monitored for an optimal entry, there is still too much bearish structure while below the 21 moving average and until a break through the resistance.

On a retest of the old resistance, bulls can enjoy a higher risk to reward setup from a swing trading perspective.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD remains offered; bears target 1.3600

GBP/USD now leaves behind part of its recent recovery and revisits the low 1.3600s at the beginning of the week. Indeed, Cable trades with a mild downward bias amid decent gains in the Greenback as investors remain wary of upcoming US data releases and the Jackson Hole event.

EUR/USD remains sidelined above 1.1650

EUR/USD trades on the defensive following the closing bell on Wall Street on Monday, hovering around the 1.1660 region and adding to Friday’s small decline. The pair’s pullback comes in response to an acceptable rebound in the US Dollar in a context of generalised caution ahead of key US data releases and Chair Warsh’s speech in Jackson Hole.

Gold advances to over three-month high as bulls look to reclaim $4,700

Gold climbs to a fresh high since mid-May, with bulls now eyeing $4,700 and extending the rally witnessed since the beginning of this month. The US Treasury's bond market intervention failure fuels concerns about fiscal sustainability and boosts demand for bullion as an alternative store of value. Moreover, the US Dollar struggles to attract any meaningful buyers, which, along with receding bets for an immediate Fed rate hike, continues to benefit the non-yielding yellow metal.

Ethereum: BitMine scoops 32K ETH, hints at further gains

Ethereum (ETH) treasury company BitMine Immersion Technologies (BMNR) expanded its digital asset holdings last week with another round of acquisitions. The firm purchased 32,447 ETH during the week, lifting its holdings to 5.847 million ETH. That represents its largest purchase since the first week of July.

Will Jackson Hole ignite Gold and Silver’s next explosive breakout?

The 2026 Jackson Hole Economic Policy Symposium arrives at a pivotal moment. The U.S economy faces record debt, elevated borrowing costs, a weaker dollar and renewed momentum across hard assets. For The Gold & Silver Club, the backdrop increasingly validates its early-year call: “2026 will be the Year of Hard Assets.”

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.