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.
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