- NZD/CAD bounces off 100-DMA and edges higher to test 20-DMA at 0.9602.
- Breakout above could see test of 0.9735 levels.
- Technicals indicators are bullishly aligned, RSI and Stochs biased higher.
- MACD line is on verge of a bullish crossover on signal line.
- Our previous call (http://www.econotimes.com/FxWirePro-NZD-CAD-holds-above-100-DMA-good-to-long-dips-422862) has achieved all targets.
- Support levels - 0.9568 (session low), 0.9520 (5-DMA), 0.9497 (10-DMA)
- Resistance levels - 0.9602 (20-DMA), 0.9685 (Sept 27 high), 0.9735 (Sept 20 high)
Recommendation: Go long on breakout above 20-DMA at 0.9602, SL: 0.9520, TP: 0.9685/ 0.97/ 0.9735
FxWirePro's Hourly NZD Spot Index was at 68.5336 (Neutral), while Hourly CAD Spot Index was at 14.7907 (Neutral) at 0630 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
