Technical analysis NZDCAD for 16.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.80700. The closest resistance is the level 0.81000

Key levels

• 0.81725, 0.81300, 0.81000, 0.80700, 0.80375, 0.80025

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.80700, with Take Profit of 0.80375 and Stop Loss of 0.81000

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.81000, with Take Profit of 0.81300 and Stop Loss of 0.80700