FxWirePro: NZD/CAD Trade Idea

NZD/CAD chart on Trading View used for analysis

FxWirePro Currency Strength Index for NZD/CAD: Bias Bullish
FxWirePro's Hourly NZD Spot Index was at 147.739 (Bullish)
FxWirePro's Hourly CAD Spot Index was at -148.047 (Bearish)

Technical Analysis: Bias Bullish
- NZD/CAD holds 20-DMA support, fails to close below
- Price has broken above 5-DMA, 5-DMA has turned north
- RSI and Stochs are biased higher
- MACD supports upside

Support levels - 0.8530 (21-EMA), 0.8468 (Oct 24 low)
Resistance levels - 0.86 (daily cloud, 23.6% Fib and 55-EMA),  0.8658 (Oct 19/ 22 high)

Recommendation: Stay long on break above 55-EMA, SL: 0.8530, TP: 0.8660/ 0.87

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.