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, good to long break above - EconoTimes)
- NZD/CAD has held major trendline support at 0.9335.
- Stochs have shown a rollover from oversold levels and are biased higher.
- RSI is also biased higher at 46 levels and will confirm higher momentum if it reaches above 50 levels.
- The pair finds stiff resistance at 0.9498 (100-DMA), breakout above needed for further upside.
- Support levels - 0.9442 (5-DMA), 0.9427 (Dec 13 low), 0.9335 (trendline)
- Resistance levels - 0.9471 (20-DMA), 0.9498 (100-DMA), 0.95, 0.9545 (Dec 8 high)
Recommendation: Wait for a breakout above 100-DMA to go long.
FxWirePro's Hourly NZD Spot Index was at 70.0292 (Slightly bullish), while Hourly CAD Spot Index was at 40.0719 (Neutral) at 0900 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
