Source: PaxForex Premium Analytics Portal, Technical Insight
Former Bank of Canada governor David Dodge says the central bank has a year to 18 months to get inflation under control or risk a return to the “pretty awful era” between the mid-1970s and ’80s characterized by a lack of pricing predictability and social upheaval.
NZD/CAD,D1
Pivot: 0.8080
Analysis:
As long as the price is above 0.8200 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8251
- Take Profit 1: 0.8300
- Take Profit 2: 0.8400
Alternative scenario:
If the level of 0.8200 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8200
- Take profit 1: 0.8120
- Take profit 2: 0.8060
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8500 | 0.8200 |
| 0.8400 | 0.8120 |
| 0.8300 | 0.8060 |
