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NZD/CAD chart on Trading View used for analysis
- NZD/CAD rejected at session lows at 0.8715, bias higher.
- Momentum studies are biased higher, RSI above 60, with room to run further.
- The pair has broken above daily cloud and 110-EMA and is on track for further gains.
- Bollinger Bands are widening, suggesting rising volatility, bulls eye next major resistance at 38.2% Fib at 0.8778.
- On the flipside, retrace below 110-EMA could see resumption of weakness.
Support levels - 0.8711 (110-EMA), 0.8690 (5-DMA)
Resistance levels - 0.8778 (38.2% Fib), 0.8920 (50% Fib)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-CAD-Trade-Idea-1452805) is progressing well.
Recommendation: Stay long for targets.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
