NZDCAD today reversed up from the support area lying between the pivotal support level 0.8920 (which has been reversing the price from the end of November), 100-day moving average, lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse (1) from October.
The upward reversal from this support area stopped the earlier impulse wave C of the active ABC correction (2) from December.
NZDCAD is expected to rise further and re-test the next resistance level 0.9100 (top of the previous waves (iv), (a) and B).
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