- NZD/CAD hovers around 38.2% Fib, intraday bias remains neutral.
- The pair finds stiff resistance at 200-DMA at 0.9143, we see major upside only on break above.
- Technical studies support trend higher, RSI converging nicely with price action.
- We see +ve DMI dominance and momentum studies are also bullish.
- 20-DMA at 0.8960 is strong support, we see weakness on break below.
Support levels - 0.8960 (20-DMA), 0.8905 (23.6% Fib retrace of 0.9758 to 0.8641 fall), 0.8781 (daily cloud)
Resistance levels - 0.9068 (38.2% Fib), 0.9143 (200-DMA), 0.92 (50% Fib)
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at 4.01271 (Neutral), while Hourly CAD Spot Index was at -4.15363 (Neutral) at 1030 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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