Categories: Technical analysis

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).

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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The FxPro Tech Analysis Team
Tags: NZDCAD

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