NZDCAD Wave Analysis – 27 April, 2020

NZDCAD reversed from pivotal resistance level 0.8535
Likely to fall to 0.8420

NZDCAD recently reversed down from the pivotal resistance level 0.8535 (which has been reversing the price from the middle of March).

The resistance zone near the resistance level 0.8535 was strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the previous downward impulse wave (1).

NZDCAD is expected to fall further toward the next support level 0.8420. Nearby resistance stands at the resistance level 0.8570.

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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