Source: PaxForex Premium Analytics Portal, Technical Insight
Traders brace for Canada’s third-quarter GDP growth, which is expected to grow 1.0% annually in Q3, compared to the previous reading of 2.1%.
NZD/CAD,D1
Pivot: 0.8288
Analysis:
As long as the price is above 0.8200 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8288
- Take Profit 1: 0.8400
- Take Profit 2: 0.8500
Alternative scenario:
If the level of 0.8200 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8200
- Take profit 1: 0.8100
- Take profit 2: 0.8000
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.8600 | 0.8200 |
| 0.8500 | 0.8100 |
| 0.8400 | 0.8000 |
