Source: PaxForex Premium Analytics Portal, Technical Insight
New Zealand: the labor market has reached a turning point, RBNZ to hike 50 bps – Westpac.
NZD/CAD,D1
Pivot: 0.8633
Analysis:
As long as the price is above 0.8450 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8633
- Take Profit 1: 0.8730
- Take Profit 2: 0.8880
Alternative scenario:
If the level of 0.8450 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8450
- Take profit 1: 0.8350
- Take profit 2: 0.8250
Comment:
RSI shows an uptrend in the medium term.
Key levels:
Resistance | Support |
0.8900 | 0.8450 |
0.8800 | 0.8350 |
0.8730 | 0.8250 |