Source: PaxForex Premium Analytics Portal, Technical Insight
Firm expectations that the RBNZ will keep interest rates at their current levels for the entire year keep the New Zealand Dollar upbeat.
NZD/CAD,D1
Pivot: 0.8436
Analysis:
As long as the price is below 0.8300 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8436
- Take Profit 1: 0.8550
- Take Profit 2: 0.8650
Alternative scenario:
If the level of 0.8300 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8300
- Take profit 1: 0.8200
- Take profit 2: 0.8100
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8750 | 0.8300 |
| 0.8650 | 0.8200 |
| 0.8550 | 0.8100 |
