Source: PaxForex Premium Analytics Portal, Technical Insight
Canadian Dollar churned on Thursday after mixed US data flummoxes markets.
NZD/CAD,D1
Pivot: 0.8136
Analysis:
AAs long as the price is below 0.8100 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8136
- Take Profit 1: 0.8250
- Take Profit 2: 0.8350
Alternative scenario:
If the level of 0.8100 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8100
- Take profit 1: 0.8000
- Take profit 2: 0.7900
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8450 | 0.8100 |
| 0.8350 | 0.8000 |
| 0.8250 | 0.7900 |
