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.

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Tags: NZDCAD

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