Source: PaxForex Premium Analytics Portal, Technical Insight
A review of the RBNZ inflation expectations for the second quarter reveals a slowdown in some indicators. Notably, the 2-year forward indicator was unchanged, as was the 10-year forward indicator, suggesting that expectations may be at or near their peak.
NZD/CAD,D1
Pivot: 0.8235
Analysis:
As long as price is below 0.8350 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8128
- Take Profit 1: 0.8050
- Take Profit 2: 0.7950
Alternative scenario:
If the level of 0.8350 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8350
- Take profit 1: 0.8500
- Take profit 2: 0.8575
Comment:
RSI indicates the potential for decrease in the medium term.
Key levels:
| Resistance | Support |
| 0.8575 | 0.8050 |
| 0.8500 | 0.7950 |
| 0.8350 | 0.7900 |
