Call update: NZD/CAD target-1 hit, further bullishness only on breaks above 0.9237
Tuesday, February 23, 2016 3:46 AM UTC
- NZD/CAD is extending upside after taking strong trendline support at 0.9042 on Feb 18th trade.
- Price action has re-entered the daily cloud and Stochs have shown a bullish crossover from oversold levels.
- Strong support is seen by trendline at 0.9042, while minor support is seen at 0.9130 (5-DMA).
- Major resistance is seen at 0.9237 levels, we see further bullishness only on breaks above, tests of 0.9320 then likely.
- Our call (http://www.econotimes.com/FxWirePro-Good-to-long-NZD-CAD-around-09145-weakness-only-below-09040-164755) has hit target-1.
Recommendation: Book partial profits, raise trailing stops to 0.9170
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