Source: PaxForex Premium Analytics Portal, Technical Insight

Bank of Canada, Macklem: It will take more time for inflation to decline.

NZD/CAD,D1

Pivot: 0.8704

Analysis:

As long as price is below 0.8796 follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.8704
• Take Profit 1: 0.8621
• Take Profit 2: 0.8462

Alternative scenario:

If the level of 0.8796 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.8796
• Take profit 1: 0.8951
• Take profit 2: 0.9043

Comment:

RSI indicates the potential for a decline in the medium term.

Key levels: