Source: PaxForex Premium Analytics Portal, Technical Insight
Canada's economy has made a solid start to 2023, with sturdy employment gains over the last six months and monthly GDP figures pointing to respectable growth in the first quarter.
NZD/CAD,D1
Pivot: 0.8300
Analysis:
As long as the price is below 0.8400 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8300
- Take Profit 1: 0.8250
- Take Profit 2: 0.8150
Alternative scenario:
If the level of 0.8400 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8400
- Take profit 1: 0.8500
- Take profit 2: 0.8560
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8560 | 0.8250 |
| 0.8500 | 0.8150 |
| 0.8400 | 0.8050 |
