. NZDCAD Technical Analysis: Up Channel and Bullish Momentum

NZDCAD Technical Analysis: Up Channel and Bullish Momentum

18 May 2023

NZDCAD: WEEKLY SCENARIO

NZDCAD Technical Analysis: Weekly Chart

weekly chart

In the weekly charts, NZDCAD is trading in an up channel. NZDCAD is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 0.8200 the resistance level is at 0.8900

NZDCAD will trade in an up channel until there is a trend reversal.

NZDCAD Technical Analysis: Daily Chart

weekly chart

In the daily charts, NZDCAD was trading in an up channel. USDCAD is currently trading below all SMA except MA(20).

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 0.8300 the resistance level is at 0.85500

NZDCAD was traded in an up channel before there is a breakout downside.  

How to Trade NZDCAD this Week:

NZDCAD will follow the uptrend until its trend reversal. So, remain bullish on NZDCAD

TRADE SUGGESTION- BUY AT 0.84480, TAKE PROFIT AT 0.8560 AND STOP LOSS AT 0.8340.