NZD/CAD price action on the hourly charts has broken above 50 SMA at 0.9370.
Kiwi remains buoyed after dovish RBA SoMP. We see scope for upside upto 0.94.
Violation there could see next hurdle at 0.9430 and then 0.9494 levels.
20-DMA at 0.9316 is strong support on the downside, break below could test 0.9187 (50-DMA).
Good to go long on dips SL: 0.9330, TP: 0.94/ 0.9430
Kiwi remains buoyed after dovish RBA SoMP. We see scope for upside upto 0.94.
Violation there could see next hurdle at 0.9430 and then 0.9494 levels.
20-DMA at 0.9316 is strong support on the downside, break below could test 0.9187 (50-DMA).
Good to go long on dips SL: 0.9330, TP: 0.94/ 0.9430
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.