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NZD/CAD upside capped at 0.9226, good to sell rallies
New Zealand Dollar/Canadian Dollar
Short
NZD/CAD upside capped at 0.9226, good to sell rallies
By FxWirePro
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Updated
Feb 29, 2016
6
Cheer
Cheer
Feb 24, 2016
NZD/CAD upside has been capped at 0.9226, pair has edged lower to currently trade around 0.9140.
Price action on the 4-hourly charts has dipped below the cloud and 5-DMA, momentum studies are bearish, support further downside.
Strong support on the downside is located at 0.9080 (cloud base and Feb 19th low), breaks below could see test of 0.9065 (rising trendline).
On the upside 10-DMA at 0.9157 is immediate resistance ahead of 0.9182 (Feb 2nd highs).
Good to sell rallies around 0.9150, Sl: 0.92, TP: 0.9080/0.9065/0.9045
Feb 29, 2016
Trade closed: target reached
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