Monday, June 5, 2023
HomeForexNZDCAD Targeting A test of .8400

NZDCAD Targeting A test of .8400

Technical & Trade ViewNZDCADTrade VieWBias: Bullish Above Bearish below .8190/60TechnicalsPrimary support is .8190/60Primary upside objective .8400 Weekly TrendlineNext pattern confirmation, acceptance above .8285Failure below .8150 opens a test of .810020 Day VWAP bullish, 5 Day VWAP bullishInstitutional InsightsAnalysts at Credit Agricole note ‘The RBNZ’s aggressive tightening cycle will see NZ lead the rest of the G10 into an economic slowdown, and falling dairy  prices  on  the  back  of  a  weak  China  economy  are  seeing  the  NZD  underperform.  The  re-opening  of  the international border will be a positive for the coming 3M. Soft economic landings locally and internationally will improve the NZD’s prospects over the coming 6-12M’



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