The overall trend for price in NZDCAD is bearish. We could see that price is making a pullback to the support level between 0.85800 and 0.85259 which has confluences with the 50EMA and FIBO retracement levels. The RSI and MACD are below the centreline which indicates a possible move of price to the downside.
Crypto markets extended small gains on Thursday with prices of bitcoin and ether rising by 3% in the past 24 hours. Major cryptocurrencies saw little movement as XRP increased 3.3%, while Shiba Inu’s SHIB gained 6%.
The moves showcased a recovery in the markets, which started last weekend, after a plunge last month.
From the overview of price we could see that price has changed it overall bias to be bullish after breaking previous high. A likely retest of the support zone between 0.73748 and 0.69494 which is in confluence with the 50EMA and the FIBO golden levels will see price push to the upside. The RSI and MACD are above the centreline.
Gold prices keep the US inflation-led losses around $1,825 during Friday’s Asian session.
The yellow metal rose to the highest levels in three days the previous day before the US Consumer Price Index (CPI) data propelled US Treasury yields to fresh 2.5-year.
From the chart overview , we could see that the price of gold made a deep pullback to the resistance zone between 1839 and 1830 which is also the overbought level on the RSI. Price is most likely going to go bearish to the next zone between 1774 and 1764.