Categories: Technical analysis

NZDCAD Wave Analysis – 3 July, 2020

• NZDCAD broke key resistance level 0.8800

• Likely to rise to 0.8900

NZDCAD continues to rise after the earlier breakout of the key resistance level 0.8800 – which has been reversing the price from last December.

The breakout of the resistance level 0.8800 accelerated the active impulse waves 3 and (5).                                                 NZDCAD is likely to rise further toward the next resistance level 0.8900 (expected price for the termination of the active impulse sequence (5)).

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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