InstaForex - Analytics


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    Technical analysis of NZD/CAD for March 25, 2016 2016-03-25

    According to my previous analysis, NZD/CAD is expected to fall. Price remains near the R1 resistance that hasn't been broken. Overall, the entry point for short positions looks very attractive, especially when the price is right at the top of the descending channel and below the 200 Moving Average.

    Consider holding or entering short positions while the price is near R1 (0.8890), targeting either S2 (0.8740) or S3 (0.8650) . The stop loss should be well above the 0.8900 psychological resistance.

    Support: 0.8830, 0.8740, 0.8650

    Resistance: 0.8890, 0.8980


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