FxWirePro Currency Strength Index for NZD/CAD: Bias Bearish
FxWirePro's Hourly USD Spot Index was at -40.1145 (Neutral)
FxWirePro's Hourly USD Spot Index was at 100.215 (Bullish)
Technical Analysis: Bias Bearish
- Price action below 200-DMA at 0.9045
- Momentum studies bearish, MACD well below zero levels
- RSI well below 30 levels, -ve DMI dominance
- On weekly charts we see bearish MACD crossover and -ve DMI crossover
Support levels - 0.8829 (78.6% Fib), 0.8740 (Sept 12 low), 0.87
Resistance levels - 0.8961 (5-DMA), 0.90, 0.9045 (200-DMA)
Recommendation: Good to go short on rallies around 0.89, SL: 0.8975, TP: 0.8830/ 0.8740
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