Source: PaxForex Premium Analytics Portal, Technical Insight
The Canadian Dollar received a boost from increased prospects of foreign currency inflows, driven by an uptick in WTI oil prices
NZD/CAD,D1
Pivot: 0.8149
Analysis:
As long as the price is below 0.8200 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8089
- Take Profit 1: 0.8000
- Take Profit 2: 0.7900
Alternative scenario:
If the level of 0.8200 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8200
- Take profit 1: 0.8250
- Take profit 2: 0.8350
Comment:
RSI shows a downtrend in the medium term.
Key levels:
Resistance | Support |
0.8450 | 0.8000 |
0.8350 | 0.7900 |
0.8200 | 0.7800 |