logo

FX.co ★ NZDCAD is facing bullish pressure, potential for further upside

NZDCAD is facing bullish pressure, potential for further upside

NZDCAD is facing bullish pressure, potential for further upside

Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see a bounce at our 1st support at 0.92613, which is in line with our 61.8% Fibonacci retracement and 127.2% Fibonacci extension, and further upside towards our 1st resistance at 0.93295, in line with our 61.8% Fibonacci extension.

Trading Recommendation

Entry: 0.92613

Reason for Entry:

61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support

Take Profit: 0.93295

Reason for Take Profit:

61.8% Fibonacci extension and horizontal swing high resistance

Stop Loss: 0.92086

Reason for Stop Loss:

Horizontal swing low support

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account