NZD/CAD may rise 25 - 37 pips

0.8410 is our pivot point.

Our preference

As long as 0.8410 is support look for 0.8466.

Alternative scenario

The downside breakout of 0.8410 would call for 0.8390 and 0.8377.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8428 and 0.8423).

Supports and resistances

0.8491 **

0.8479 *

0.8466 **

0.8454

0.8429 last

0.8418

0.8410 **

0.8390 *

0.8377 **

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