Source: PaxForex Premium Analytics Portal, Technical Insight
In its latest Quarterly Predictions, The New Zealand Institute of Economic Research (NZIER) said that rising interest rates and high inflation worldwide pose a threat to New Zealand’s economic recovery over the coming years.
NZD/CAD,D1
Pivot: 0.8582
Analysis:
As long as the price is above 0.8380 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8582
- Take Profit 1: 0.8700
- Take Profit 2: 0.8900
Alternative scenario:
If the level of 0.8380 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8380
- Take profit 1: 0.8275
- Take profit 2: 0.8150
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.9100 | 0.8380 |
| 0.8900 | 0.8275 |
| 0.8700 | 0.8150 |
