Source: PaxForex Premium Analytics Portal, Technical Insight
RBNZ’s Conway: If inflation expectations don't fall, will have to do more on interest rates.
NZD/CAD,D1
Pivot: 0.8553
Analysis:
As long as the price is below 0.8600 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8533
- Take Profit 1: 0.8350
- Take Profit 2: 0.8250
Alternative scenario:
If the level of 0.8600 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8600
- Take profit 1: 0.8730
- Take profit 2: 0.8800
Comment:
RSI shows a downtrend in the medium term.
Key levels:
Resistance | Support |
0.8800 | 0.8350 |
0.8730 | 0.8250 |
0.8600 | 0.8150 |