Source: PaxForex Premium Analytics Portal, Technical Insight
The commodity-linked CAD holds mild gains due to a slight upside in crude oil prices as Canada is the biggest crude exporter to the United States.
NZD/CAD,D1
Pivot: 0.8135
Analysis:
As long as the price is above 0.8260 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8246
- Take Profit 1: 0.8200
- Take Profit 2: 0.8100
Alternative scenario:
If the level of 0.8260 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8260
- Take profit 1: 0.8400
- Take profit 2: 0.8500
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8500 | 0.8200 |
| 0.8400 | 0.8100 |
| 0.8260 | 0.8000 |
