Source: PaxForex Premium Analytics Portal, Technical Insight
Daily coronavirus cases in New Zealand jumped to their highest level in weeks.
NZD/CAD,D1
Pivot: 0.8741
Analysis:
As long as price is below 0.9022 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8741
- Take Profit 1: 0.8617
- Take Profit 2: 0.8525
Alternative scenario:
If the level of 0.9022 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9022
- Take profit 1: 0.9178
- Take profit 2: 0.9270
Comment:
RSI indicates the potential for a decline in the medium term.
Key levels:
| Resistance | Support |
| 0.9270 | 0.8617 |
| 0.9178 | 0.8525 |
| 0.9022 | 0.8434 |
