Source: PaxForex Premium Analytics Portal, Technical Insight
According to Reuters, the Bank of Canada will leave its inflation target at 2.0%, the mid-point of a 1.0%-3.0% range, in a soon-to-be-announced review of its monetary policy framework.
NZD/CAD,D1
Pivot: 0.8630
Analysis:
As long as price is below 0.8753 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8630
- Take Profit 1: 0.8560
- Take Profit 2: 0.8392
Alternative scenario:
If the level of 0.8753 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8753
- Take profit 1: 0.8919
- Take profit 2: 0.9018
Comment:
RSI indicates the potential for decrease in the medium term.
Key levels:
| Resistance | Support |
| 0.9018 | 0.8560 |
| 0.8919 | 0.8392 |
| 0.8753 | 0.8293 |
