SamKent
Long

NZD/CAD Long Term Analysis

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
33 0 0
The NZD/CAD held the 61.8% fib and is now looking to be building up some more bullish momentum . We're interested in buying the pair on a break of the 50 SMA and the RSI descending trend-line/wedge formation. Our initial target will be the previous highs at around 0.9500. Fundamentally, this pair is often a battle that has more to do with the real economies in question rather than simply the price status of commodities worldwide, which is often the case when you match commodity pairs with other currencies . Therefore, we'd be keeping an eye out for employment, GDP and domestic inflation for both economies.
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