Key Levels for NZD/CAD: Support and Resistance
Updated
Currently, the NZD/CAD pair is trading at 0.8400. It's important for traders to monitor key resistance level at 0.8435. A break above this resistance could indicate a bullish signal, allowing the price to rise further, with targets set at 0.8500 and 0.8530.
Conversely, if the price moves downward and breaks the support level at 0.8372, it may lead to further declines. In that case, the next support level to monitor would be at 0.8327.
Conversely, if the price moves downward and breaks the support level at 0.8372, it may lead to further declines. In that case, the next support level to monitor would be at 0.8327.
Trade closed: target reached
In our previous analysis of the NZD/CAD pair, we noted that the key resistance level was at 0.8435. We expected a bullish signal if the price broke above this level, with targets at 0.8500 and 0.8530. However, the price only reached 0.8433 and then reversed, breaking the support at 0.8372 and hitting our next support level at 0.8327.
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