Categories: Technical analysis

NZDCAD Wave Analysis 25 January, 2021

• NZDCAD rising inside impulse wave 3.

• Likely to rise to resistance level 0.9250

NZDCAD recently reversed up from the support level 0.9062 (former minor support from the middle of December) – standing near the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.

The upward reversal from the support level 0.9062 started the active short-term impulse wave 3.

NZDCAD is expected to rise further toward the next resistance level 0.9250 (top of the previous minor impulse wave 1 from the start of January).

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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Tags: NZDCAD

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