FxWirePro: NZD/CAD recovery lacks momentum, finds stiff resistance at 1H 110-EMA at 0.8927

• NZD/CAD pauses recovery at 0.89 handle, bulls struggling to extend gains further.
   
• We feel recovery in the pair lacks momentum, follow through unlikely.
   
• The pair finds stiff resistance at 1H 110-EMA at 0.8927, breakout could see further upside.
   
• We find bullish divergence on Stochs and RSI in the hourly charts. 
   
• Price is currently struggling at hourly cloud which is capping upside. Break above could see test of 1H 110-EMA.
   
• Weakness in oil prices keeping the Canadian dollar subdued, supporting upside in the pair.
   
• Downside finds strong support at 0.8835 (major trendline), weakness to resume on break below.

Support levels - 0.8880 (78.6% Fib), 0.8835 (trendline), 0.88

Resistance levels - 0.89, 0.8927 (1H 110-EMA), 0.8955 (61.8% Fib)

FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -5.92862 (Neutral), while Hourly CAD Spot Index was at 86.5471 (Bullish) at 0845 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.