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FxWirePro: NZD/CAD Near-Term Outlook

NZD/CAD chart on Trading View used for analysis 

  • NZD/CAD breaches cloud support and extends weakness for the 3rd straight session.
     
  • Antipodeans hit by the latest report that the US-China trade talks could be delayed, in light of the US shutdown.
     
  • Canadian Finance Minister Bill Morneau was on the wires late-Wednesday, said that Brexit not a problem for Canada.
     
  • Technical indicators are bearishly aligned in the near-term. Scope for further weakness.
     
  • Price action has broken below 55-EMA and is on track to test 200-DMA at 0.8883.
     
  • On the weekly charts the pair is edging lower from upper Bollinger Band. Is holding support at 0.8930 (55W EMA).
     
  • Break below 200-DMA to see further weakness. While on the flipside, break above 20-DMA to see minor upside.

Support levels - 0.8922 (110-EMA), 0.8883 (200-DMA), 0.8789 (cloud base)

Resistance levels - 0.8989 (55-EMA), 0.9020 (5-DMA), 0.9035 (23.6% Fib)

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 812877812877m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 812877812877m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 824697824697m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 812877812877m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 824697824697m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 812877812877m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 812877812877m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 812877812877m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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