Source: PaxForex Premium Analytics Portal, Technical Insight
A modest downtick in crude oil prices undermines the commodity-linked loonie and offers it some support.
NZD/CAD,D1
Pivot: 0.7873
Analysis:
As long as the price is below 0.7905 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7811
- Take Profit 1: 0.7720
- Take Profit 2: 0.7665
Alternative scenario:
If the level of 0.7905 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7905
- Take profit 1: 0.7980
- Take profit 2: 0.8050
Comment:
RSI shows a downtrend in the medium term.
Key levels:
Resistance | Support |
0.8050 | 0.7720 |
0.7980 | 0.7665 |
0.7905 | 0.7600 |