Source: PaxForex Premium Analytics Portal, Technical Insight
RBNZ’s Orr: New Zealand farms face challenges as interest rates rise.
NZD/CAD,D1
Pivot: 0.8517
Analysis:
As long as the price is below 0.8400 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8517
- Take Profit 1: 0.8560
- Take Profit 2: 0.8610
Alternative scenario:
If the level of 0.8400 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8400
- Take profit 1: 0.8340
- Take profit 2: 0.8260
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8700 | 0.8400 |
| 0.8610 | 0.8340 |
| 0.8560 | 0.8260 |
