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Weekly forecast New Zealand Dollar / Canadian Dollar technical chart

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJanuary 25, 2020 - 21:43
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.8565, continuation of uptrend is expected.
  • We make sure when the resistance at 0.8785 breaks.
  • If the support at 0.8565 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 0.8600 on 01/08/2020, so more gains to resistance(s) 0.8725 and maximum to Major Resistance (0.8785) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 54.

Supports and Resistances:

  1. 0.9920
  2. 0.9515
  3. 0.9260
  4. 0.9060
  5. 0.8920
  6. 0.8785
  7. 0.8565
  8. 0.8460
Click on the level to view price action history.