NZDCAD Wave Analysis – 12 June, 2020

• NZDCAD reversed from resistance zone

• Likely to fall to 0.8700

NZDCAD recently reversed down from the resistance zone located between the key resistance level 0,8800 (which stopped the sharp impulse wave (C) in December) and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped the earlier impulse waves 3 and (C).

NZDCAD is likely to fall further toward the next support level 0.8700 (former strong resistance from the January and March, acting as support after it was broken previously).