Categories: Technical analysis

NZDCAD Wave Analysis 10 March, 2021

• NZDCAD reversed from support level 0.9000

• Likely to reach resistance level 0.9100

NZDCAD recently reversed up from the round support level 0.9000 (which reversed the pair multiple times in December) – standing outside of the the lower daily Bollinger Band and intersecting with the 61.8% Fibonacci correction of the upward impulse from November.

The upward reversal from the support level 0.9000 started the active short-term impulse wave 3.

NZDCAD is likely to rise further toward the next resistance level 0.9100 (former monthly low from February).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: NZDCAD

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