NZD/CAD Faces Strong Resistance Around 0.8920, Break Above Targets 0.9000
29 March 2016, 09:55
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NZD/CAD Faces Strong Resistance Around 0.8920, Break Above Targets 0.9000
- Major resistance – 0.8920
- The pair has recovered after making a low of 0.88537. it is currently trading around 0.89025.
- NZD/CAD major resistance is around 0.8920 and any indicative break above will take the pair to next level around 0.8950/0.9001/0.9118.
- On the lower side trend reversal can be seen below 0.8820 and break below targets 0.8750/0.8700.
- CAD has a positive start of the trading week due to softer US data and slight recovery of Oil price during North America session.
- Oil price is highly volatile and market awaits Doha output freeze summit which is to be held on Apr 17th 2016.
It is good to buy only above 0.8920 with SL around 0.8850 for the TP of 0.9000
The material has been provided by InstaForex Company - www.instaforex.com
