Source: PaxForex Premium Analytics Portal, Technical Insight
Analysts at TD Securities (TDS) offered a brief overview of Canada's monthly GDP report, which is expected to show that the economy contracted 0.2% in May.
NZD/CAD,D1
Pivot: 0.8084
Analysis:
As long as the price is below 0.8165 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8084
- Take Profit 1: 0.7950
- Take Profit 2: 0.7900
Alternative scenario:
If the level of 0.8165 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8165
- Take profit 1: 0.8250
- Take profit 2: 0.8350
Comment:
RSI indicates the potential for a decrease in the medium term.
Key levels:
| Resistance | Support |
| 0.8350 | 0.7950 |
| 0.8250 | 0.7900 |
| 0.8165 | 0.7850 |
