Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: NZD/CAD extends gains above channel base, good to buy dips

  • NZD/CAD is extending upside for the 3rd consecutive session after hitting 2-month lows at 0.8852 on Mar 1st.
     
  • Stochs are showing a clean rollover from oversold territory, and RSI strong and biased higher, at 46 and further room to run.
     
  • The pair has re-entered the channel after brief dip below, has edged above 10-DMA in today's trade and 5-DMA has turned north.
     
  • 0.8874 (double bottom, Oct 27th and Dec 4th 2015) is strong support on the downside, while minor resistance seen upto 0.9067.
     
  • Breaks above 0.9070 could take the pair to 0.9150 levels, weakness only below 0.8920 (channel base).
     

Recommendation: Good to Buy dips around 0.9030/40, SL: 0.8960, TP: 0.9070/0.9130/0.9150

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.