NZDCAD Wave Analysis – 21 April, 2022

• NZDCAD reversed from resistance level 0.8500
• Likely to fall to support level 0.8400

NZDCAD currency pair recently reversed down from the resistance level 0.8500 (former monthly strong support from the end of February), strengthened by 61.8% Fibonacci correction of the earlier upward impulse from January.

The downward reversal from the resistance level 0.8500 started the active short-term impulse wave (v) of waves 3 and (C).

NZDCAD can be expected to fall further toward the next support level 0.8400 (former support from February).