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: