Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of Canada, Macklem: timing of the decline will depend on the development of the economy.
NZD/CAD,D1
Pivot: 0.9001
Analysis:
As long as price is above 0.8776 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9001
- Take Profit 1: 0.9100
- Take Profit 2: 0.9284
Alternative scenario:
If the level of 0.8776 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8776
- Take profit 1: 0.8595
- Take profit 2: 0.8487
Comment:
RSI indicates the potential for growth in the medium term.
Key levels:
| Resistance | Support |
| 0.9284 | 0.8776 |
| 0.9175 | 0.8595 |
| 0.9100 | 0.8487 |
