Source: PaxForex Premium Analytics Portal, Technical Insight
Expectations are up in New Zealand, but given that a 125bp increase is already priced in (compared to 25 in the US) and a 4.13% OCR peak is already expected by the end of 2023, there is probably less room for an increase, which in turn could limit the NZD.
NZD/CAD,D1
Pivot: 0.8312
Analysis:
As long as price is below 0.8470 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8312
- Take Profit 1: 0.8250
- Take Profit 2: 0.8170
Alternative scenario:
If the level of 0.8470 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8470
- Take profit 1: 0.8575
- Take profit 2: 0.8670
Comment:
RSI indicates the potential for decrease in the medium term.
Key levels:
| Resistance | Support |
| 0.8670 | 0.8250 |
| 0.8575 | 0.8170 |
| 0.8470 | 0.8100 |
