• FxWirePro: NZD/CAD extends range trade at 21-ema resistance, scope for resumption of weakness

    Source: FxWire Pro - Technicals / 29 May 2019 01:46:34   America/New_York

    NZD/CAD chart - Trading View 

    NZD/CAD trades slightly lower on the day at 0.8822 at 05:20 GMT.

    The pair has paused upside at stiff resistance at 21-EMA (currently at 0.8833).

    Break above 21-EMA required for further upside. Next bull target lies at 200-DMA at 0.8893.

    RSI is below 50 and Stochastics RSI has approached overbought levels, we see scope for resumption of weakness.

    Rejection at 21-EMA and break below 5-DMA will see dip till 61.8% Fib at 0.8688.

    Bearish invalidation only above 200-DMA.

    For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
     

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