NZDCAD Wave Analysis – 20 December, 2022

• NZDCAD reversed from major resistance level 0.8760

• Likely to fall to support level 0.8500

NZDCAD recently reversed down from the major resistance level 0.8760 (which has been reversing the pair from last December, as can be seen below).

The downward reversal from the resistance level 0.8760 started the active short-term correction 4.

NZDCAD can be expected to fall further toward the next support level 0.8500 (forecast price for the completion of the active short-term correction 4).