Technical analysis of NZD/CAD for December 9, 2015
December 9, 2015 2:20 pmVideo
Latest News
- Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Tuesday May 28, 2024. May 28, 2024
- Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Tuesday May 28, 2024. May 28, 2024
- Forecast for GBP/USD on May 28, 2024 May 28, 2024
- Forecast for AUD/USD on May 28, 2024 May 28, 2024
- The bullish bias is gaining momentum. Overview of GBP/USD May 28, 2024
- CFTC report: investors continue to USD sell-off despite high yields May 28, 2024
- Investors bet on the euro’s strength. Overview of EUR/USD May 28, 2024
- Video market update for May 27, 2024 May 27, 2024
- Analysis of GBP/USD pair on May 27, 2024 May 27, 2024
- Euro area inflation unlikely to change ECB’s outlook – Preview May 27, 2024
- EUR/USD. Analysis of the upcoming inflation report in the European Union. What to expect? May 27, 2024
- USD/JPY: Simple trading tips for novice traders on May 27th (US session) May 27, 2024
- GBP/USD: Simple trading tips for novice traders on May 27th (US session) May 27, 2024
- EUR/USD: Simple trading tips for novice traders on May 27th (US session) May 27, 2024
- GBP/USD: trading plan for the US session on May 27th (analysis of morning deals). The pound reached 1.2756 May 27, 2024
- Technical Analysis – Will gold resume its prevailing uptrend? May 27, 2024
- Technical Analysis – USDCAD pulls back but diagonal line still stands May 27, 2024
- Technical Analysis – USDJPY remains stuck in a tight range May 27, 2024
- EUR/USD: trading plan for the US session on May 27th (analysis of morning deals). The euro is trying to continue its growth May 27, 2024
- Forecast of EUR/USD pair on May 27, 2024 May 27, 2024
NZD/CAD has been steadily rising since November 18 and there are no signs of a trend reversal at this point yet.
The price clearly broke above the previous resistance at 0.8950
which has become the support that has been rejected. Overall, the price is moving within
the ascending channel and could go slightly down to test the lower trend line of
the channel. However, the uptrend is still intact and the probability of further uptrend remains quite high.
Consider buying NZD/CAD if the price gets back to support area
near 0.8950 to target potential tipple top at 0.9045 and possibly higher. On
the other hand, a break below the support could result in a trend reversal and
conservative trading is preferable.
Support: 0.8955
Resistance: 0.9045
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: