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Short

Sell NZD/CAD breakout below 0.9255

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
136 0 9
US Dollar             firmer ahead of FOMC, which is not supportive for commodities and hence commodity currencies.

The Fed is expected to keep its rates unchanged at today’s meeting, while a more constructive tone is seen from the statement.

The pair is down 0.21% on the day, finds strong support at 0.9255 levels.

Break below could accentuate weakness, test of 0.9145 levels then likely.

7-DMA at 0.9298 is immediate resistance on the upside, break above will see further gains to 0.9340 levels.

Techs on 4H charts support downside, RSI and Stochs biased lower.

Good to sell rallies breakout below 0.9255, SL: 0.93, TP: 0.92/ 0.9150
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