Source: PaxForex Premium Analytics Portal, Technical Insight
Kiwi has been declining in recent months. Analysts at MUFG Bank expect the currency to recover in 2022, as the RBNZ has plenty of room for rate hikes.
NZD/CAD,D1
Pivot: 0.8459
Analysis:
As long as price is below 0.8615 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8459
- Take Profit 1: 0.8350
- Take Profit 2: 0.8298
Alternative scenario:
If the level of 0.8615 is broken-out, follow the recommendations below::
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8615
- Take profit 1: 0.8753
- Take profit 2: 0.8835
Comment:
RSI indicates the potential for decrease in the medium term.
Key levels:
| Resistance | Support |
| 0.8835 | 0.8350 |
| 0.8753 | 0.8298 |
| 0.8615 | 0.8217 |
