The markets reduced the odds of a 50 bps rate cut at the BoC’s December 11 policy meeting.
NZD/CAD,D1
Pivot: 0.8147
Analysis:
As long as the price is above 0.8200 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8147
- Take Profit 1: 0.8100
- Take Profit 2: 0.8000
Alternative scenario:
If the level of 0.8200 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8200
- Take profit 1: 0.8400
- Take profit 2: 0.8500
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8600 | 0.8200 |
| 0.8500 | 0.8100 |
| 0.8400 | 0.8000 |
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