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FxWirePro: NZD/CAD breaks major trendline resistance, good to go long on dips

  • NZD/CAD has broken major trendline resistance at 0.95 levels.
     
  • The pair is trading with a major bullish bias, momentum studies are bullish.
     
  • Stochs and RSI are biased higher, we see a bullish MACD line crossover on signal line.
     
  • Major support levels - 0.9503 (5-DMA), 0.9487 (50-DMA), 0.9469 (20-DMA)
     
  • Major resistance levels - 0.9575 (Sept 30 high), 0.9594 (Oct 4 high), 0.9630 (Sept 26 high)

Recommendation: Good to go long on dips around 0.9540, SL: 0.9487, TP: 0.9590/ 0.9630
 

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