Market Snapshots

NZDCAD Wave Analysis – 27 May, 2020

NZDCAD Wave Analysis – 27 May, 2020

• NZDCAD reversed from key resistance level 0.8570

• Likely to fall to 0.8450

NZDCAD recently reversed down from the key resistance level 0.8570, standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 0.8570 created the daily Japanese candlestick reversal pattern Shooting Star.

NZDCAD is likely to fall further toward the next support level 0.8450 (former support from the start of May).

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