Source: PaxForex Premium Analytics Portal, Technical Insight
RBNZ’s Orr announced two more rate hikes ahead this year to tame the inflationary pressures at Jackson Hole Economic Symposium.
NZD/CAD,D1
Pivot: 0.7987
Analysis:
As long as the price is below 0.8070 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7987
- Take Profit 1: 0.7950
- Take Profit 2: 0.7900
Alternative scenario:
If the level of 0.8070 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8070
- Take profit 1: 0.8125
- Take profit 2: 0.8180
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8180 | 0.7950 |
| 0.8125 | 0.7900 |
| 0.8070 | 0.7800 |
