NZDCAD Wave Analysis 8 October, 2020

• NZDCAD broke support zone

• Likely to fall to 0.8660

NZDCAD recently broke the support zone lying between the key support level 0.8750 and the 50% Fibonacci correction of the upward impulse wave (1) from August.

The breakout of this support zone accelerated the active downward impulse wave C of the ABC correction (2) from last month.

NZDCAD is likely to fall further toward the next support level 0.8660 (target price for the completion of the active sub-impulse wave (i)).