NZD/CAD may rise 40 - 59 pips

0.8300 is our pivot point.

Our preference

The upside prevails as long as 0.8300 is support.

Alternative scenario

The downside breakout of 0.8300 would call for 0.8267 and 0.8248.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8314 and 0.8313).

Supports and resistances

0.8426 **

0.8407 *

0.8387 **

0.8368

0.8328 last

0.8313

0.8300 **

0.8267 *

0.8248 **

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