Technical analysis

NZDCAD Wave Analysis 10 March, 2021

NZDCAD Wave Analysis 10 March, 2021

• NZDCAD reversed from support level 0.9000

• Likely to reach resistance level 0.9100

NZDCAD recently reversed up from the round support level 0.9000 (which reversed the pair multiple times in December) – standing outside of the the lower daily Bollinger Band and intersecting with the 61.8% Fibonacci correction of the upward impulse from November.

The upward reversal from the support level 0.9000 started the active short-term impulse wave 3.

NZDCAD is likely to rise further toward the next resistance level 0.9100 (former monthly low from February).

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