Source: PaxForex Premium Analytics Portal, Technical Insight
RBNZ: a new strain is unlikely to turn the central bank off the path of rate hikes.
NZD/CAD,D1
Pivot: 0.8864
Analysis:
As long as price is above 0.8650 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8724
- Take Profit 1: 0.8800
- Take Profit 2: 0.8900
Alternative scenario:
If the level of 0.8650 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8650
- Take profit 1: 0.8502
- Take profit 2: 0.8414
Comment:
RSI indicates the potential for growth in the medium term.
Key levels:
| Resistance | Support |
| 0.8990 | 0.8650 |
| 0.8900 | 0.8502 |
| 0.8800 | 0.8414 |
