NZDCAD Wave Analysis – 17 September, 2020

• NZDCAD broke resistance area

• Likely to rise to 0.8915 and 0.9000

NZDCAD recently broke resistance area located between the resistance level 0.8850 (which stopped the previous impulse wave (1)) and the 61.8% Fibonacci correction of the downward correction from July.

The breakout of this resistance area continues the active medium-term impulse wave (3) from the start of September.

NZDCAD is likely to rise further toward the next resistance level 0.8915 (top of wave (B) from the start of August) – the breakout of which can lead to further gains toward the powerful resistance 0.9000.