FxWirePro: NZD/CAD faces resistance at 200 day MA, good to sell on rallies
Major Resistance - 0.8865 (200 day MA) NZD/CAD has declined after making a high of 0.8865. It is currently trading at 0.8785. Short term trend is still weak as long as resistance 0.8865 holds. Any indicative break above …
NZD/CAD has declined after making a high of 0.8865. It is currently trading at 0.8785.
Short term trend is still weak as long as resistance 0.8865 holds. Any indicative break above 0.8865 will take the pair to next level till 0.8925/0.8960/0.9000.
Short term bearish invalidation only above 0.9060.
On the lower side major support is around 0.8780 and break below targets 0.8725/0.8660.
It is good to sell on rallies around 0.8800 with SL around 0.8865 for the TP of 0.8725/0.8660
