Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD
Canada: Manufactured goods prices rose 1.6% m/m in April.
Pivot: 1.2075
Analysis:
Provided that the currency pair is traded below 1.2275, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.2075
- Take Profit 1: 1.1980
- Take Profit 2: 1.1680
Alternative scenario:
In case of breakout of the level 1.2275, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.2275
- Take Profit 1: 1.2400
- Take Profit 2: 1.2500
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
Resistance | Support |
1.2500 | 1.1980 |
1.2400 | 1.1830 |
1.2275 | 1.1680 |
NZD/USD
RBNZ, Hawksbee: Markets are ahead of the curve on rate hikes.
Pivot: 0.7249
Analysis:
While the price is above 0.7140, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7249
- Take Profit 1: 0.7315
- Take Profit 2: 0.7385
Alternative scenario:
If the level 0.7140 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7140
- Take Profit 1: 0.7065
- Take Profit 2: 0.7000
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
Resistance | Support |
0.7465 | 0.7140 |
0.7385 | 0.7065 |
0.7315 | 0.7000 |