Source: PaxForex Premium Analytics Portal, Technical Insight
The RBNZ will continue to raise rates by 50 bps in August - Reuters poll.
NZD/CAD,D1
Pivot: 0.8210
Analysis:
As long as the price is above 0.8050 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8210
- Take Profit 1: 0.8250
- Take Profit 2: 0.8300
Alternative scenario:
If the level of 0.8050 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8050
- Take profit 1: 0.7950
- Take profit 2: 0.7900
Comment:
RSI indicates the potential for an increase in the medium term.
Key levels:
Resistance | Support |
0.8350 | 0.8050 |
0.8300 | 0.7950 |
0.8250 | 0.7900 |