NZD/CAD finds major support by 200-DMA at 0.9370. We see weakness only on break below. 5-DMA has curved north, we see some upside on intraday charts. Scope for test of 100-DMA at 0.9466. Violation there could see test of…
NZD/CAD finds major support by 200-DMA at 0.9370. We see weakness only on break below.
5-DMA has curved north, we see some upside on intraday charts.
Scope for test of 100-DMA at 0.9466. Violation there could see test of falling trendline at 0.9590.
200-DMA at 0.9370 is major support on the downside, while major resistance lies at 0.9466 (100-DMA).
Recommendation: Good to go long on dips around 0.9390, SL: 0.9340, TP: 0.9420/ 0.9460/ 0.9480
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -65.8658(Bearish), while Hourly CAD Spot Index was at -45.8999 (Neutral) at 0720 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
