FxWirePro: NZD/CAD Faces Resistance at 200 Day MA, Good to Sell on Rallies

FxWirePro: NZD/CAD Faces Resistance at 200 Day MA, Good to Sell on Rallies

6 May 2016, 13:54
Roberto Jacobs
0
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FxWirePro: NZD/CAD Faces Resistance at 200 Day MA, Good to Sell on Rallies

  • Major Resistance - 0.8865 (200 day MA) 
  • NZD/CAD has declined after making a high of 0.8865. It is currently trading at 0.8785. 
  • Short term trend is still weak as long as resistance 0.8865 holds. Any indicative break above 0.8865 will take the pair to next level till 0.8925/0.8960/0.9000. 
  • Short term bearish invalidation only above 0.9060. 
  • On the lower side major support is around 0.8780 and break below targets 0.8725/0.8660.

It is good to sell on rallies around 0.8800 with SL around 0.8865 for the TP of 0.8725/0.8660

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