NZD/CAD broke below the 200-Moving Average that could result
in a trend change from up to down. The pair rejected 97.90 resistance level,
which previously acted as support.

Fibonacci retracement shows that NZD/CAD broke below the 50%
Moving Average, although it hasn’t tested 67.8% level.

Consider selling NZD/CAD at the current price, targeting
either 61.8% (0.9708) or 76.4% Fibs (0.9657). Suggested stop loss is just above
97.90 resistance.

Support: 0.9750, 0.9708, 0.9657

Resistance: 0.9790, 0.9842

NZDCAD_INSTA.png

The material has been provided by InstaForex Company – www.instaforex.com

The post Technical analysis of NZD/CAD for November 10, 2016 appeared first on forex-analytics.press.