Source: PaxForex Premium Analytics Portal, Technical Insight
While the RBNZ is focused on continuing to roll back monetary stimulus, the regulator also notes the volatility of high property prices, seeing them as a threat to monetary and financial stability.
NZD/CAD,D1
Pivot: 0.8587
Analysis:
As long as price is above 0.8542 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8587
- Take Profit 1: 0.8765
- Take Profit 2: 0.8850
Alternative scenario:
If the level of 0.8542 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8542
- Take profit 1: 0.8378
- Take profit 2: 0.8280
Comment:
RSI indicates the potential for increase in the medium term.
Key levels:
| Resistance | Support |
| 0.8929 | 0.8542 |
| 0.8850 | 0.8378 |
| 0.8765 | 0.8280 |
