NZD/CAD may rise 38 - 56 pips

Our pivot point is at 0.8368.

Our preference

As long as 0.8368 is support look for 0.8451.

Alternative scenario

The downside breakout of 0.8368 would call for 0.8338 and 0.8320.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8393 and 0.8375).

Supports and resistances

0.8487 **

0.8469 *

0.8451 **

0.8433

0.8395 last

0.8380

0.8368 **

0.8338 *

0.8320 **

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