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Add as a preferred source on Google FxWirePro: 5-DMA caps upside in NZD/CAD, good to sell rallies NZD/CAD is extending downside from 4-month highs of 0.9297 hit on Friday. The pair has slipped below 5-DMA and is currently trading around 0.9178 levels. Recovery attempts were capped by 5-DMA at 0.9198 which is strong r…
By FxWire Pro Jun 28, 2016, 10:23 AM UTC
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NZD/CAD is extending downside from 4-month highs of 0.9297 hit on Friday.
The pair has slipped below 5-DMA and is currently trading around 0.9178 levels.
Recovery attempts were capped by 5-DMA at 0.9198 which is strong resistance on the upside.
Price action is moving away from upper Bollinger Band and Stochs are showing a rollover from overbought zone.
Downside finds support at 0.9139 (June 27th low), 0.91 and the 0.9060 (June 20th low).
Recommendation: Good to sell rallies around 0.9190, SL: 0.9260, TP: 0.9140/ 0.91/ 0.9060
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