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: