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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.
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
U.S. stocks are seen opening mixed Thursday, pausing around record highs as investors await more fresh news on Covid-19 vaccines and potential fiscal stimulus.
A tentative mood was seen in Asia-Pacific bourses following the flat performance on Wall Street, whilst Chinese Caixin Services PMI printed its second-highest reading in a decade.
The mix of economic reports from Canada and the USA will have a huge impact on the pair! Get ready with us!
GBP/USD is heading for the fifth week of gains. Will the rally up continue or stop?
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
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