NZD/CAD chart on Trading View used for analysis
- NZD/CAD trades 0.52% higher on the day, at 0.8572 at the time of writing.
- The pair has broken above 5W SMA and is on track to extend gains for the 2nd straight week.
- Technical indicators on daily charts are biased higher. Momentum studies are bullish.
- RSI is above 50 and biased higher, MACD shows bullish crossover on signal line.
- The pair has tested 50-DMA at 0.8574, break above to see further upside.
- Scope then for test of 23.6% Fib at 0.86 ahead of 100-DMA at 0.8773.
Support levels - 0.8517 (5-DMA), 0.8495 (Sept 12 low), 0.8321 (Oct 8 low)
Resistance levels - 0.8574 (50-DMA), 0.86 (23.6% Fib), 0.8773 (100-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
