Source: PaxForex Premium Analytics Portal, Technical Insight
CAD is mostly lower on Thursday as broader markets pivot into safe haven currencies after US inflation from the Consumer Price Index (CPI) ticked broadly higher than markets were expecting, widening the gap between market hopes of a March rate cut and the Fed’s current stance.
NZD/CAD,D1
Pivot: 0.8346
Analysis:
As long as the price is above 0.8200 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8346
- Take Profit 1: 0.8450
- Take Profit 2: 0.8550
Alternative scenario:
If the level of 0.8200 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8200
- Take profit 1: 0.8100
- Take profit 2: 0.8000
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8650 | 0.8200 |
| 0.8550 | 0.8100 |
| 0.8450 | 0.8000 |
