Facts:
The pair bounced off the key support zone at 0.8261
NZDCAD is trading in an upward move form 23rd of June
Recommendation:
Trade: Long position on NZDCAD at market price
Target: 0.8325, 0.8347
Stop: 0.8240
Opinion: NZDCAD reached the key technical support zone at 0.8261 today. The price reacted to the lower limit of 1:1 structure, signalling that the short-term trend remains upward. The aforementioned support is also a result of previous price reactions. According to the Overbalance methodology, as long as the price sits above, the main trend remains upward. We recommend going long NZDCAD at market price with two targets: 0.8325 and 0.8347. We also recommend placing a stop loss order at 0.8240. Source: xStation5
