NZDCAD Wave Analysis – 25 March, 2019

• NZDCAD broke resistance area
• Further gains are likely

NZDCAD recently broke through the resistance area lying between the key resistance level 0.9250 (monthly high from November) and the resistance trendline of the wide weekly down channel from the middle of May.

The breakout of this resistance area accelerated the active medium-term impulse wave (C) from the strong support level 0.8900.

NZDCAD is expected rise further and re-test the next resistance level 0.9500 (top of the previous correction (B) from 2018).