NZDCAD SELLNew Zealand Dollar vs. Canadian DollarFX:NZDCADThe-20-Pips-CenterNZDCAD has rallied into a key resistance area after breaking structure to the downside. Price is currently retracing into a premium zone where multiple bearish confluences align. Confluences 🔹 Daily bearish market structure remains intact. 🔹 Price has retraced into the 61.8% Fibonacci retracement of the most recent bearish impulse. 🔹 Retest of the broken ascending trendline, which is now acting as dynamic resistance. 🔹 Price is trading inside a previous supply area where sellers stepped in before. Trade Idea I'm looking for bearish confirmation before committing to the trade. Ideal trigger: Bearish engulfing candle Lower-timeframe CHOCH/BOS Rejection wick from the resistance zone Invalidation A strong daily close above the current resistance zone would invalidate the bearish setup and suggest buyers have regained control.