Source: PaxForex Premium Analytics Portal, Technical Insight
Expectations for June rate cuts by the Bank of Canada have waned due to recent data indicating ongoing price pressures.
NZD/CAD,D1
Pivot: 0.8373
Analysis:
As long as the price is below 0.8200 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8373
- Take Profit 1: 0.8450
- Take Profit 2: 0.8550
Alternative scenario:
If the level of 0.8200 is broken-down, 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 |
| 0.8650 | 0.8200 |
| 0.8550 | 0.8100 |
| 0.8450 | 0.8000 |
