NZDCAD Wave Analysis – 19 March, 2020

• NZDCAD reversed from pivotal support level 0.8240
• Likely to rise to 0.8400

NZDCAD recently reversed up from the pivotal support level 0.8240 (which has been reversing the price from last October) – strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 0.8240 stopped the earlier impulse wave (3) – which started earlier from the key resistance level 0.8700.

With the clear bullish divergence on the daily Stochastic indicator – NZDCAD is likely to rise further toward the next resistance level 0.8400.