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Technical analysis of NZD/CAD for November 10, 2016

NZD/CAD broke below the 200-Moving Average that could result in a trend change from up to down. The pair rejected 97.90 resistance level, which previously acted as support.

Fibonacci retracement shows that NZD/CAD broke below the 50% Moving Average, although it hasn't tested 67.8% level.

Consider selling NZD/CAD at the current price, targeting either 61.8% (0.9708) or 76.4% Fibs (0.9657). Suggested stop loss is just above 97.90 resistance.

Support: 0.9750, 0.9708, 0.9657

Resistance: 0.9790, 0.9842

NZDCAD_INSTA.png

The material has been provided by InstaForex Company - www.instaforex.com