Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of Canada (BoC) and the Massachusetts Institute of Technology (MIT) announced a collaboration to study the prospects for a digital Canadian dollar.
NZD/CAD,D1
Pivot: 0.8691
Analysis:
As long as price is above 0.8640 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8691
- Take Profit 1: 0.8810
- Take Profit 2: 0.8910
Alternative scenario:
If the level of 0.8640 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8640
- Take profit 1: 0.8545
- Take profit 2: 0.8400
Comment:
RSI indicates the potential for increase in the medium term.
Key levels:
| Resistance | Support |
| 0.8995 | 0.8640 |
| 0.8910 | 0.8545 |
| 0.8810 | 0.8400 |
