Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
NZD/CAD has been moving up
Information is not investment advice
On the daily chart of NZDCAD, the RSI indicator has been trying to leave the oversold area. Moreover, we see that the pair has been forming candlesticks with long shadows that may be considered as an additional signal of the possible reversal. If we take a look at H4, we will see that the pair has been moving towards the first target at 0.8555. The next long may be expected after the pair touches 0.8574. The target will lie at 0.8607.
If the pair slides, the first support is located at 0.8528. The next level for short is at 0.8511. In the case of the weak NZD, the pair will continue suffering to 0.8502.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?