NZDCAD Wave Analysis – 7 September, 2022

• NZDCAD reversed from strong support level 0.7920

• Likely to rise to resistance level 0.8030

NZDCAD currency pair recently reversed up from the strong support level 0.7920 (which stopped the earlier impulse waves 5 and (5) in July).

The upward reversal from the support level 0.7920 stopped the previous intermediate impulse wave (3).

Given the strength of the support level 0.7920 and the oversold daily Stochastic – NZDCAD can be expected to rise further toward the resistance level 0.8030 (which stopped the previous intermediate correction (2)).