Technical analysis

NZDCAD Wave Analysis – 13 October, 2021

NZDCAD Wave Analysis – 13 October, 2021

• NZDCAD reversed from support zone

• Likely to rise to resistance level 0.8715

NZDCAD currency pair recently reversed up from the support zone lying between the key support level 0.8625 (former Triple Bottom from June) and the lower daily Bollinger Band.

The upward reversal from this support zone will most likely create the second consecutive candlesticks reversal pattern Piercing Line.

Given the strength of the aforementioned support zone, NZDCAD currency pair can be expected to rise further toward the next resistance level 0.8715 (former low of the minor impulse wave 1 from the end of September).

Article Rating
Rate this post