Market Snapshots

NZDCAD Wave Analysis – 22 July, 2019

NZDCAD Wave Analysis – 22 July, 2019
  • NZDCAD broke resistance area
  • Further gains are likely

NZDCAD today broke the resistance area lying between the resistance level 0.8875 and the 38.2% Fibonacci correction of the previous long-term ABC correction form March.

The breakout of this resistance area should strengthen the bullish pressure on this currency pair.

NZDCAD is expected to rise further and retest the next resistance level 0.8920 (top of the previous medium-term (B)-wave from June).

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