Source: PaxForex Premium Analytics Portal, Technical Insight
Kiwi struggles to justify dovish bias about the Federal Reserve (Fed) amid concerns about witnessing the Reserve Bank of New Zealand’s (RBNZ) inaction.
NZD/CAD,D1
Pivot: 0.8074
Analysis:
As long as the price is below 0.8260 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8074
- Take Profit 1: 0.8025
- Take Profit 2: 0.7950
Alternative scenario:
If the level of 0.8260 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8260
- Take profit 1: 0.8350
- Take profit 2: 0.8400
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8400 | 0.8025 |
| 0.8350 | 0.7950 |
| 0.8260 | 0.7900 |
