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: