Categories: Technical analysis

NZDCAD Wave Analysis – 28 May, 2021

• NZDCAD reversed from resistance area

• Likely to fall to support level 0.9400

NZDCAD currency pair just reversed down from the resistance area set between the resistance level 0.8850 (top of wave 2), upper daily Bollinger Band and the 50% Fibonacci correction of the previous wave (C).

The downward reversal from this resistance area will most likely form, the daily Evening Star – if the pair closes today near the current levels.

NZDCAD can then be expected to fall further toward the next support level 0.8665 (former minor support from the start of May).

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

Nasdaq 100 Wave Analysis 23 December 2024

- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…

6 hours ago

USDJPY Wave Analysis 23 December 2024

- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…

6 hours ago

US indices: has the bullish trend broken?

The recent declines in US indices may have broken the bullish trend, indicated by technical…

12 hours ago

Dollar: Slowing Momentum, Same Direction

The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…

16 hours ago

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

17 hours ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

4 days ago

This website uses cookies