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Long

NZD/CAD faces resistance around 0.8920, break above targets 0.90

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
51 0 3
Major resistance – 0.8920

The pair has recovered after making a low of 0.88537. it is currently trading around 0.89025.

NZD/CAD major resistance is around 0.8920 and any indicative break above will take the pair to next level around 0.8950/0.9001/0.9118.

On the lower side trend reversal can be seen below 0.8820 and break below targets 0.8750/0.8700.

CAD has a positive start of the trading week due to softer US data and slight recovery of Oil             price during North America session.

Oil             price is highly volatile and market awaits Doha output freeze summit which is to be held on Apr             17th 2016.

It is good to buy only above 0.8920 with SL around 0.8850 for the TP of 0.9000/0.9115
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