Source: PaxForex Premium Analytics Portal, Technical Insight
A Reuters poll sees the Reserve Bank of New Zealand hiking by 75Bps next week. Stubbornly high inflation expectations reinforced the case for more aggressive rate hikes from the Reserve Bank of New Zealand.
NZD/CAD,D1
Pivot: 0.8219
Analysis:
As long as the price is above 0.8050 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8249
- Take Profit 1: 0.8300
- Take Profit 2: 0.8400
Alternative scenario:
If the level of 0.8050 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8050
- Take profit 1: 0.7950
- Take profit 2: 0.7850
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8500 | 0.8050 |
| 0.8400 | 0.7950 |
| 0.8300 | 0.7850 |
