NZD/CAD may fall 30 - 42 pips

Our pivot point is at 0.8387.

Our preference

The downside prevails as long as 0.8387 is resistance.

Alternative scenario

Above 0.8387, look for 0.8406 and 0.8418.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8376 and 0.8381).

Supports and resistances

0.8418 **

0.8406 *

0.8387 **

0.8379

0.8371 last

0.8341

0.8329 **

0.8318 *

0.8306 **

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