NZD/CAD may fall to 0.7975 - 0.8053

Our pivot point stands at 0.8329.

Our preference

The downside prevails as long as 0.8329 is resistance.

Alternative scenario

The upside breakout of 0.8329, would call for 0.8459 and 0.8537.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8308 and 0.8359). Finally, the NZD/CAD is trading below its lower Bollinger band (standing at 0.8220).

Supports and resistances

0.8537 **

0.8459 *

0.8329 **

0.8278

0.8209 last

0.8053

0.7975 **

0.7898 *

0.7821 **

Number of asterisks represents the strength of support and resistance levels.