NZDCAD Wave Analysis – 06 August, 2020

• NZDCAD reversed from support level 0.8800

• Likely to rise to 0.8950

NZDCAD recently reversed up from the support level 0.8800 (former key resistance from June) – standing close to the lower daily Bollinger Band.

The upward reversal from the support level 0.8800 continues the active medium-term impulse wave (3) from the middle of June.

NZDCAD is likely to rise further toward the next resistance level 0.8950 (former multi-candle resistance from last month).