Source: PaxForex Premium Analytics Portal, Technical Insight
Kiwi has not reacted much to the announcement by novel New Zealand Prime Minister Chris Hipkins that minimum wages will be increased in line with the Consumer Price Index (CPI).
NZD/CAD,D1
Pivot: 0.8512
Analysis:
As long as the price is above 0.8450 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8512
- Take Profit 1: 0.8620
- Take Profit 2: 0.8730
Alternative scenario:
If the level of 0.8450 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8450
- Take profit 1: 0.8350
- Take profit 2: 0.8250
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8900 | 0.8450 |
| 0.8730 | 0.8350 |
| 0.8620 | 0.8250 |
