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Weekly forecast New Zealand Dollar / Canadian Dollar technical chart
Symbol NZDCAD

Trading suggestion:

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

DateSeptember 17, 2023 - 15:48
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.79330, beginning of uptrend is expected.
  • We make sure when the resistance at 0.83350 breaks.
  • If the support at 0.79330 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 49 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.81385 on 09/01/2023, so more losses minimum to Major Support (0.79330) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 37.

Supports and Resistances:

  1. 0.93300
  2. 0.90169
  3. 0.87693
  4. 0.86080
  5. 0.84740
  6. 0.83350
  7. 0.82986
  8. 0.82080
  9. 0.81523
  10. 0.80262
  11. 0.78755
Click on the level to view price action history.