NZD/CAD – Currency exchange rate forecast 06.06.2019: the downside prevails as long as 0.8911 is resistance

NZD/CAD - Currency exchange rate forecast 06.06.2019: the downside prevails as long as 0.8911 is resistance

Alternative scenario: above 0.8911, look for 0.8941 and 0.8959.

Our pivot point stands at 0.8911.

Our preference: the downside prevails as long as 0.8911 is resistance.

Alternative scenario: above 0.8911, look for 0.8941 and 0.8959.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 0.8889 and 0.8887).

Supports and resistances:

0.8959 **

0.8941 *

0.8911 **

0.8899

0.8886 last

0.8846

0.8828 **

0.8810 *

0.8792 **