Technical analysis NZDCAD for 22.07.2022

The Tenkan-sen line crosses from top to bottom the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.80500. The closest support is the level 0.80090

Key levels

• 0.81170, 0.80900, 0.80500, 0.80090, 0.79860, 0.79560

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.80500, with Take Profit of 0.80900 and Stop Loss of 0.80300

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.80090, with Take Profit of 0.79860 and Stop Loss of 0.80300