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: