Source: PaxForex Premium Analytics Portal, Technical Insight
After more than a month of negotiations over ministerial roles and policies, New Zealand's National Party has achieved an agreement with ACT New Zealand and New Zealand First to form the country's next three-party coalition government, per Reuters.
NZD/CAD,D1
Pivot: 0.8270
Analysis:
As long as the price is above 0.8030 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8270
- Take Profit 1: 0.8350
- Take Profit 2: 0.8450
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 |
| 0.8550 | 0.8200 |
| 0.8450 | 0.8100 |
| 0.8350 | 0.8000 |
