- NZD/CAD struggles at 200-DMA at 0.9137, break above to see further upside.
- The pair has edged lower from fresh 5-month highs at 0.9173 and is currently trading at 0.9138 levels.
- We see major upside only on breakout at 200-DMA. Scope then for test of 16.8% Fib at 0.9331.
- 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 0.90 is strong support, we see weakness only on break below.
Support levels - 0.9108 (5-DMA), 0.9068 (38.2% Fib retrace of 0.9758 to 0.8641 fall), 0.90 (20-DMA), 0.8905 (23.6% Fib)
Resistance levels - 0.9137 (200-DMA), 0.92 (50% Fib), 0.9331 (61.8% Fib)
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