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: