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FxWirePro: NZD/CAD Near-Term Outlook

NZD/CAD chart on Trading View used for analysis

  • NZD/CAD is trading in a narrow range on the day, holds above 5-DMA support.
     
  • The pair has been on an uptrend since beginning of October and has broken above 200W SMA.
     
  • Price action extends in 'Falling Triangle' pattern and the pair is trading shy of Triangle top at 0.9280.
     
  • Momentum studies on weekly charts are biased higher. Break above Triangle Top could propel the pair higher.
     
  • That said, we see a bearish divergence on RSI and Stochs on the daily charts which keeps scope for minor pullbacks.
     
  • Immediate support lies at 5-DMA at 0.9192. Major weakness only below 200W SMA at 0.9077. 
     
  • Breakout at Triangle Top eyes 78.6% Fib retracement at 0.7581. 

Support levels - 0.9192 (5-DMA), 0.9085 (20-DMA), 0.9077 (200W SMA)

Resistance levels - 0.9256 (Dec 6 high), 0.9280 (Triangle top), 0.93

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 773230773230m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 773230773230m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 785050785050m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 773230773230m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 785050785050m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 773230773230m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773230773230m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773230773230m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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