NZD/CAD buy setup - target 0.9150
NZD/CAD has re-entered the channel after brief dip below, has edged above 10-DMA in today's trade and 5-DMA has turned north.
The pair failed to close below strong support at 0.8874 (double bottom, Oct 27th and Dec 4th 2015).
Stochs are showing a clean rollover from oversold territory, and RSI strong and biased higher, at 46 and further room to run.
Price action has re-entered the channel after brief dip below, has taken rising trendline support.
Minor resistance is seen upto 0.9067, breaks above will see next resistance by cloud base at 0.9079.
Good to Buy dips around 0.9030/40, SL: 0.8960, TP: 0.9070/0.9130/0.9150
The pair failed to close below strong support at 0.8874 (double bottom, Oct 27th and Dec 4th 2015).
Stochs are showing a clean rollover from oversold territory, and RSI strong and biased higher, at 46 and further room to run.
Price action has re-entered the channel after brief dip below, has taken rising trendline support.
Minor resistance is seen upto 0.9067, breaks above will see next resistance by cloud base at 0.9079.
Good to Buy dips around 0.9030/40, SL: 0.8960, TP: 0.9070/0.9130/0.9150
