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FxWirePro: NZD/CAD trade idea

Major resistance- 0.9560 (Jan 25th high). Major support -0.9460 (Jan 26th low). NZD/CAD recovers slightly after making a low of 0.9460 on Jan26th 2017 low. It is currently trading around 0.95590. On the lower side, minor…

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FxWirePro: NZD/CAD trade idea
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  • Major resistance- 0.9560 (Jan 25th high).
     
  • Major support -0.9460 (Jan 26th low).
     
  • NZD/CAD recovers slightly after making a low of 0.9460 on Jan26th 2017 low. It is currently trading around 0.95590.
     
  • On the lower side, minor weakness can be seen below the 0.9460 level. Any break below 0.9460 will drag the pair till 0.9398/0.9370 (61.8% retracement of 0.9210 and 0.96284).
     
  • The major resistance is around 0.9560 and any break above 0.9560 will take the 0.9630/0.9680.

    It is good to buy above 0.9560 with SL around 0.9520 for the TP of 0.9630/0.9680.

Resistance                                                                                 

R1-0.9560                           

R2-0.9630

R3- 0.9700

Support      

S1-0.9520

S2-0.9460

S3- 0.9398

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