Forex Trade recommendation on NZDCAD 22-04-2016 by AzaForex

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The new Zealand Вollar again on the chart came to a strong support level for the Canadian dollar. Several times the pair approached this level and each time the bears were this level is too tough. This level also has several gaps, when this level could turn out level of resistance directly into support level. These levels simply do not give up, but after the breakout of the price can give a strong impetus to the huge amount of orders placed by traders.
 
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 0.8750
•             The level of profit and close the position: 0.8650 (100 pips)
 
 
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Possible bullish movement in the breakout of the resistance level 1.4370
 
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