- NZD/CAD is extending upside for 4th straight week, bias higher.
- Technical indicators are biased higher. Momentum studies are bullish. Trend indicators support upside.
- The pair has broken above 38.2% Fib which has raised scope for test of 61.8% Fib at 0.9238.
- The major is currently hovering shy of 0.91 handle. We see stiff resistance at 0.91 which is 200W SMA.
- On the flipside, the pair is holding above 5-DMA which is immediate support at 0.9037. We see major weakness only on break below 200-DMA.
Support levels - 0.9065 (38.2% Fib), 0.9022 (200-DMA), 0.90
Resistance levels - 0.91, 0.9152 (50% Fib), 0.92, 0.9238 (61.8% Fib)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-CAD-struggles-at-200-DMA-09022-break-above-to-see-further-upside-1338183) has almost hit TP2.
Recommendation: Book partial profits, stay long for further upside.
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