Categories: Technical analysis

NZDCAD Wave Analysis – 22 June, 2022

• NZDCAD reversed from resistance level 0.8280
• Likely to fall to support level 0.8065

NZDCAD currency pair earlier reversed down from the key resistance level 0.8280 – standing close to the 61.8% Fibonacci correction of the downward impulse from May.

The downward reversal from the resistance level 0.8280 started the active short-term downward impulse wave (iii).

Given the clear daily downtrend, NZDCAD can be expected to fall further toward the next support level 0.8065 (which has been reversing the pair from May).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: NZDCAD

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