Source: PaxForex Premium Analytics Portal, Technical Insight
The stock markets are rising which levels out the effect of the oil price decline on the Loonie.
NZD/CAD,D1
Pivot: 0.8691
Analysis:
As long as price is above 0.8542 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8691
- Take Profit 1: 0.8765
- Take Profit 2: 0.8850
Alternative scenario:
If the level of 0.8542 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8542
- Take profit 1: 0.8378
- Take profit 2: 0.8280
Comment:
RSI indicates the potential for increase in the medium term.
Key levels:
| Resistance | Support |
| 0.8929 | 0.8542 |
| 0.8850 | 0.8378 |
| 0.8765 | 0.8280 |
