Categories: Technical analysis

NZDCAD Wave Analysis – 27 May, 2020

• NZDCAD reversed from key resistance level 0.8570

• Likely to fall to 0.8450

NZDCAD recently reversed down from the key resistance level 0.8570, standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 0.8570 created the daily Japanese candlestick reversal pattern Shooting Star.

NZDCAD is likely to fall further toward the next support level 0.8450 (former support from the start of 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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Tags: NZDCAD

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