Source: PaxForex Premium Analytics Portal, Technical Insight
The CAD heaved on Thursday, tossed around by general market flows as investors reacted to an unexpected surge in US GDP figures for the second quarter.
NZD/CAD,D1
Pivot: 0.8135
Analysis:
As long as the price is above 0.8250 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8135
- Take Profit 1: 0.8100
- Take Profit 2: 0.8000
Alternative scenario:
If the level of 0.8250 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8250
- Take profit 1: 0.8200
- Take profit 2: 0.8400
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8400 | 0.8100 |
| 0.8350 | 0.8000 |
| 0.8250 | 0.7900 |
