Technical analysis

NZDCAD Wave Analysis – 5 July 2023


– NZDCAD broke accelerated down channel

– Likely to rise to resistance level 0.8300

NZDCAD currency pair continues to rise inside the minor impulse wave 1,which started earlier with the daily Morning Star from the key support level 0.8066.

The active impulse wave 1 belongs to the primary upward impulse sequence (3) from the end of June.

Having recently broken the accelerated down channel from May, NZDCAD currency pair can be expected to rise further toward the next resistance level 0.8300 (top of the earlier minor correction 4 from last month).

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