Source: PaxForex Premium Analytics Portal, Technical Insight

RBNZ´s Silk: RBNZ can hold now and see what develops.

NZD/CAD,D1

Pivot: 0.8272

Analysis:

As long as the price is below 0.8400 follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.8272
• Take Profit 1: 0.8235
• Take Profit 2: 0.8100

Alternative scenario:

If the level of 0.8400 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.8400
• Take profit 1: 0.8500
• Take profit 2: 0.8560

Comment:

RSI shows a downtrend in the medium term.

Key levels: