FxWirePro: NZD/CAD edges higher from fresh 2-month lows at 0.8887, close above channel base resistance pivotal
Tuesday, March 1, 2016 6:38 AM UTC
- NZD/CAD has edged higher from fresh 2-month lows at 0.8887 and is currently trading at 0.8943.
- The pair is attempting an entry into the channel and a close above channel base resistance at 0.8930 will be pivotal.
- Major support for the pair lies at 0.8874 (double bottom), and only breaks below could see weakness, test of 0.8780 levels then likely.
- On the other side a close above 0.8930 with further confirmation on charts will give an opportunity for long trade.
- Above 0.8930 pair finds next resistance at 0.8977 (Feb 29th highs) and then 0.90 (5-DMA)
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