NZD/CAD chart on Trading View used for analysis
- NZD/CAD is trading at 0.8979, up 0.16% at 1225 GMT, bias neutral.
- The pair is extending sideways grind and is holding strong support at 110-EMA.
- We see weakness only on break below. Scope then for test of 38.2% Fib at 0.89.
- On the monthly charts, the pair has failed to close below 0.89 for Jan and Feb.
- Technical studies suggest the pair will continue sideways grind in the range of 0.89 - 0.9120.
- We see immediate resistance at 55-EMA at 0.90. Break above to see further upside.
Support levels - 0.8910 (lower BB), 0.89, 0.8880 (200-DMA)
Resistance levels - 0.9010 (55-EMA), 0.9024 (5-DMA), 0.91
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
