Source: PaxForex Premium Analytics Portal, Technical Insight
Canada: Real GDP rose 0.3% in April as expected.
NZD/CAD,D1
Pivot: 0.8026
Analysis:
As long as the price is below 0.8165 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8026
- Take Profit 1: 0.7950
- Take Profit 2: 0.7900
Alternative scenario:
If the level of 0.8165 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8165
- Take profit 1: 0.8250
- Take profit 2: 0.8350
Comment:
RSI indicates the potential for a decrease in the medium term.
Key levels:
Resistance | Support |
0.8350 | 0.7950 |
0.8250 | 0.7900 |
0.8165 | 0.7850 |