Source: PaxForex Premium Analytics Portal, Technical Insight
The Kiwi gets support from the outlook for commodity prices in New Zealand and the RBNZ rate forecast.
NZD/CAD,D1
Pivot: 0.8657
Analysis:
As long as price is above 0.8620 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8660
- Take Profit 1: 0.8720
- Take Profit 2: 0.8800
Alternative scenario:
If the level of 0.8620 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8640
- Take profit 1: 0.8550
- Take profit 2: 0.8480
Comment:
RSI indicates the potential for increase in the medium term.
Key levels:
| Resistance | Support |
| 0.8995 | 0.8620 |
| 0.8800 | 0.8550 |
| 0.8720 | 0.8480 |
