NZD/CAD may rise to 0.8598 - 0.8721

Our pivot point stands at 0.8157.

Our preference

As long as 0.8157 is support look for 0.8721.

Alternative scenario

The downside breakout of 0.8157 would call for 0.7951 and 0.7829.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8341 and 0.8311).

Supports and resistances

0.8967 **

0.8844 *

0.8721 **

0.8598

0.8349 last

0.8238

0.8157 **

0.7951 *

0.7829 **

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