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 99.2804 (Bullish)
FxWirePro's Hourly CAD Spot Index was at -103.142 (Bearish)

Technical Analysis: Bias Bullish
- Momentum studies bullish
- RSI above 60, bias higher
- Price action breaks above 110-EMA
- Bollinger Bands are widening, suggesting rising volatility

Support levels - 0.8710 (110-EMA), 0.8632 (5-DMA)
Resistance levels - 0.8778 (38.2% Fib), 0.8920 (50% Fib)

Recommendation: Stay long on dips, SL: 0.8630, TP: 0.8780/ 0.88/ 0.8920

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