Categories: 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).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: NZDCAD

Recent Posts

EURCAD Wave Analysis 6 September 2024

- EURCAD reversed from pivotal support level 1.4900 - Likely to rise to resistance level…

1 day ago

EURUSD Wave Analysis 6 September 2024

- EURUSD reversed from support level 1.1030 - Likely to rise to resistance level 1.1200…

1 day ago

Further Unwinding of Carry Trade

The unwinding of the carry trade in the FX market continues, with the major safe…

1 day ago

Bitcoin pressured by risk-off mood

Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below…

2 days ago

AUDUSD Wave Analysis 5 September 2024

- AUDUSD reversed from support level 0.6700 - Likely to rise to resistance level 0.6800…

2 days ago

Gold Wave Analysis 5 September 2024

- Gold reversed from support level 2475.00 - Likely to rise to resistance level 2535.00…

2 days ago

This website uses cookies