NZD/CAD may rise 31 - 44 pips

Our pivot point stands at 0.8363.

Our preference

Rebound.

Alternative scenario

Below 0.8363, expect 0.8340 and 0.8327.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (0.8378) but below its 50 period moving average (0.8384). Finally, the NZD/CAD is trading above its upper Bollinger band (standing at 0.8383).

Supports and resistances

0.8455 **

0.8441 *

0.8428 **

0.8415

0.8384 last

0.8371

0.8363 **

0.8340 *

0.8327 **

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