NZDCAD Retesting Resistance | Bears Still In ControlNew Zealand Dollar / Canadian DollarFOREXCOM:NZDCADJ4mesWickNZDCAD remains one of the weaker commodity currency crosses as the divergence between the Reserve Bank of New Zealand and the Bank of Canada continues to favor the Canadian Dollar. While both central banks have moved toward easing, the RBNZ has adopted a much more aggressive approach as New Zealand's economy struggles with slowing growth, weaker consumer demand, and deteriorating business sentiment. Canada, on the other hand, continues to benefit from stronger ties to the U.S. economy and a more resilient macro backdrop, helping to provide underlying support for the Loonie. From a technical perspective, the higher timeframes remain firmly bearish. The monthly chart continues to trade within a long-term descending structure, while the weekly timeframe is printing a consistent sequence of lower highs and lower lows. Following the recent breakdown below consolidation support, price is now pulling back into the 0.81250 resistance zone, which previously acted as support before being broken. Rather than selling at market, I prefer to wait for price to retest this area and show confirmation. A strong bearish engulfing candle or a clear rejection wick from resistance would provide evidence that sellers remain in control and increase the probability of continuation toward lower targets. Technical Overview • Monthly structure remains bearish within a long-term descending channel • Weekly trend continues to print lower highs and lower lows • Daily resistance remains intact below 0.81650 • H4 support and resistance flip zone sits at 0.81250 • Higher-timeframe market structure favors further downside Trade Plan Order Type: Sell Limit Entry Zone: 0.81250 Stop Loss: 0.81650 Take Profit 1: 0.80150 Take Profit 2: 0.79150 Risk-to-Reward TP1 → 1:2.75 TP2 → 1:5.25 The level is important, but the reaction at the level is what validates the trade. Let the market confirm the idea before committing capital.