NZDCAD Wave Analysis – 15 October, 2021

• NZDCAD broke key resistance level 0.8714

• Likely to reach resistance level 0.88001

NZDCAD currency pair continues to rise inside the corrective wave 2, which previously broke the key resistance level 0.8714 (former minor support from the end of September).

The breakout of this resistance level coincided with the breakout of the 50% Fibonacci correction of the downward impulse from the start of October.

NZDCAD can be expected to rise further toward the next resistance level 0.8800 (previous minor reversal high from the start of October).