Source: PaxForex Premium Analytics Portal, Technical Insight
Commenting on the inflation situation in the country, Bank of Canada Governor Tiff Macklem said in an interview last night that "inflation in Canada will remain painfully high."
NZD/CAD,D1
Pivot: 0.8035
Analysis:
As long as the price is below 0.8165 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8010
- Take Profit 1: 0.7950
- Take Profit 2: 0.7900
Alternative scenario:
If the level of 0.8165 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8165
- Take profit 1: 0.8250
- Take profit 2: 0.8350
Comment:
RSI indicates the potential for a decrease in the medium term.
Key levels:
| Resistance | Support |
| 0.8350 | 0.7950 |
| 0.8250 | 0.7900 |
| 0.8165 | 0.7850 |
