Source: PaxForex Premium Analytics Portal, Technical Insight
NZD further benefits from the RBNZ Governor Adrian Orr’s recent comments, which fuelled speculations that the central bank will delay cutting its benchmark rates.
NZD/CAD,D1
Pivot: 0.8289
Analysis:
As long as the price is above 0.8200 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8289
- Take Profit 1: 0.8450
- Take Profit 2: 0.8550
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: 0.8100
- Take profit 2: 0.8000
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8650 | 0.8200 |
| 0.8550 | 0.8100 |
| 0.8450 | 0.8000 |
