Source: PaxForex Premium Analytics Portal, Technical Insight
Deputy Governor Sharon Kozicki said in a speech in Montreal that the Bank of Canada would study the latest economic data to gauge whether or not to raise interest rates, adding it would move forcefully if necessary.
NZD/CAD,D1
Pivot: 0.8686
Analysis:
As long as the price is above 0.8380 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8686
- Take Profit 1: 0.8800
- Take Profit 2: 0.8900
Alternative scenario:
If the level of 0.8380 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8380
- Take profit 1: 0.8275
- Take profit 2: 0.8150
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.9100 | 0.8380 |
| 0.8900 | 0.8275 |
| 0.8800 | 0.8150 |
