Source: PaxForex Premium Analytics Portal, Technical Insight
Canadian Dollar tumbles after US CPI inflation sparks Fed fears.
NZD/CAD,D1
Pivot: 0.8098
Analysis:
As long as the price is above 0.8070 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8098
- Take Profit 1: 0.8200
- Take Profit 2: 0.8250
Alternative scenario:
If the level of 0.8070 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8070
- Take profit 1: 0.8020
- Take profit 2: 0.7950
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8300 | 0.8070 |
| 0.8250 | 0.8020 |
| 0.8200 | 0.7950 |
