NZDCAD Wave Analysis – 17 September, 2020
September 17, 2020 @ 17:52 +03:00
• NZDCAD broke resistance area
• Likely to rise to 0.8915 and 0.9000
NZDCAD recently broke resistance area located between the resistance level 0.8850 (which stopped the previous impulse wave (1)) and the 61.8% Fibonacci correction of the downward correction from July.
The breakout of this resistance area continues the active medium-term impulse wave (3) from the start of September.
NZDCAD is likely to rise further toward the next resistance level 0.8915 (top of wave (B) from the start of August) – the breakout of which can lead to further gains toward the powerful resistance 0.9000.