NZDCAD Wave Analysis – 21 April, 2020

• NZDCAD reversed from resistance area
• Likely to fall to 0.8370

NZDCAD recently reversed down from the resistance area lying between the key resistance level 0.8535, upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse (1) from December.

The downward reversal from this resistance area started the active short-term impulse wave 3.

NZDCAD is expected to fall further toward the next support level 0.8370 (low of the earlier reversal pattern Bullish Engulfing).

NZDCAD