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NZD/CAD. New Zealand currency is rising!

Short
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
On the news that Reserve bank of New Zealand decided to leave the interest rate on the same 1,00% NZD is strengthening against all other currencies and, of course, it is strengthening against CAD.

Technical analysis

On 1W TF after reaching its lowest low levels (support line) 0,83372 NZD reversed and started rising. Local trend line was broken up.

The targets for the price is 0,86346 (38,2% Fibonacci level)

On 1D TF there are signals to trade up from DMI lines and MACD lines. Despite the fact that the trend is still bearish (pay attention to 200-EMA) we hope that the local uptrend will continue

Fundamental analysis

On Friday 15-th at 2:45 a.m. GMT the BoC governor Poloz will speak and on Wednesday 20-th Canadian CPI and Core CPI are being published

Comments

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