Technical analysis

NZDCAD Wave Analysis – 18 April, 2022

NZDCAD Wave Analysis – 18 April, 2022

• NZDCAD under bearish pressure
• Likely to fall to support level 0.8400

NZDCAD is under the bearish pressure after the price broke the support zone located between the support level 0.8500 (low of wave B from February) and the 61.8% Fibonacci correction of the upward wave from February.

The breakout of this support zone should accelerate the active impulse waves 3 and (C).

NZDCAD can be expected to fall further toward the next support level 0.8400 (low of wave (iv) from February and the forecast price for the completion of the active impulse wave 3).

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