Source: PaxForex Premium Analytics Portal, Technical Insight
Canadian Dollar sees further gains as the market extends its Fed-fueled rally.
NZD/CAD,D1
Pivot: 0.8051
Analysis:
As long as the price is below 0.8100 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8051
- Take Profit 1: 0.7950
- Take Profit 2: 0.7850
Alternative scenario:
If the level of 0.8100 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8100
- Take profit 1: 0.8170
- Take profit 2: 0.8250
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8250 | 0.7950 |
| 0.8170 | 0.7850 |
| 0.8100 | 0.7750 |
