Technical analysis NZDCAD for 14.03.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.86200. The closest resistance is the level 0.86725

Key levels

• 0.88100, 0.87350, 0.86725, 0.86200, 0.85625, 0.85090, 0.84400

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.86725, with Take Profit of 0.86200 and Stop Loss of 0.87160

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.87350, with Take Profit of 0.88100 and Stop Loss of 0.86725