NZDCAD Targeting A Test of .8400
Technical & Trade View
NZDCAD
Trade View
Bias: Bullish Above Bearish below .8190
Technicals
Primary support is .8190
Primary upside objective .8400 Weekly Trendline
Next pattern confirmation, acceptance above .8285
Failure below .8180 opens a test of .8100
20 Day VWAP bullish, 5 Day VWAP bullish
Institutional Insights
Analysts at Credit Agricole note ‘The RBNZ’s aggressive tightening cycle will see NZ lead the rest of the G10 into an economic slowdown, and falling dairy prices on the back of a weak China economy are seeing the NZD underperform. The re-opening of the international border will be a positive for the coming 3M. Soft economic landings locally and internationally will improve the NZD’s prospects over the coming 6-12M’
NZDCAD
Trade View
Bias: Bullish Above Bearish below .8190
Technicals
Primary support is .8190
Primary upside objective .8400 Weekly Trendline
Next pattern confirmation, acceptance above .8285
Failure below .8180 opens a test of .8100
20 Day VWAP bullish, 5 Day VWAP bullish
Institutional Insights
Analysts at Credit Agricole note ‘The RBNZ’s aggressive tightening cycle will see NZ lead the rest of the G10 into an economic slowdown, and falling dairy prices on the back of a weak China economy are seeing the NZD underperform. The re-opening of the international border will be a positive for the coming 3M. Soft economic landings locally and internationally will improve the NZD’s prospects over the coming 6-12M’
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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