Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of Canada left the door open to further slowing its pace of interest rate hikes, while warning the labor market faces an uneven adjustment to higher borrowing costs.
NZD/CAD,D1
Pivot: 0.8015
Analysis:
As long as the price is above 0.7890 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8015
- Take Profit 1: 0.8050
- Take Profit 2: 0.8140
Alternative scenario:
If the level of 0.7890 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7890
- Take profit 1: 0.7800
- Take profit 2: 0.7750
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8200 | 0.7809 |
| 0.8140 | 0.7800 |
| 0.8050 | 0.7750 |
