NZD/CAD may fall to 0.7899 - 0.8041

Our pivot point stands at 0.8554.

Our preference

Target 0.7899.

Alternative scenario

The upside breakout of 0.8554, would call for 0.8793 and 0.8936.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (0.8427) but above its 50 period moving average (0.8342).

Supports and resistances

0.8936 **

0.8793 *

0.8554 **

0.8459

0.8357 last

0.8041

0.7899 **

0.7757 *

0.7615 **

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