Source: PaxForex Premium Analytics Portal, Technical Insight

The Reserve Bank of New Zealand has confirmed that former deputy governor Geoff Bascand left the bank a week earlier than agreed to over a breach of protocol.

NZD/CAD,D1

Pivot: 0.8575

Analysis:

As long as price is above 0.8542 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.85575
• Take Profit 1: 0.8670
• Take Profit 2: 0.8765

Alternative scenario:

If the level of 0.8542 is broken-down, follow the recommendations below:         

• Time frame: D1
• Recommendation: short position
• Entry point: 0.8542
• Take profit 1: 0.8378
• Take profit 2: 0.8280

Comment:

RSI indicates the potential for increase in the medium term.

Key levels: