NZDCAD (D) - medium term bullish bias
The bullish RSI divergence at the end of September was a sign that the downtrend had over-extended. After a four-week-long consolidation, the kiwi lifted offers near the key resistance level of 0.8430. The bullish MA cross was a solid confirmation that buyers have taken control of the price action. The initial impulse found support at the 61.8% (0.8360) Fibonacci retracement level, and we expect the pair to continue its way up as more interests shift to the upside.
Key support: 0.8370
Key resistance: 0.8700
The bullish RSI divergence at the end of September was a sign that the downtrend had over-extended. After a four-week-long consolidation, the kiwi lifted offers near the key resistance level of 0.8430. The bullish MA cross was a solid confirmation that buyers have taken control of the price action. The initial impulse found support at the 61.8% (0.8360) Fibonacci retracement level, and we expect the pair to continue its way up as more interests shift to the upside.
Key support: 0.8370
Key resistance: 0.8700
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.