Technical analysis

NZDCAD Wave Analysis 24 March, 2021

NZDCAD Wave Analysis 24 March, 2021

• NZDCAD falling inside sharp impulse wave 3

• Likely to reach support level 0.8635

NZDCAD continues to fall inside the sharp impulse wave 3 which started earlier from the resistance zone lying between the resistance level 0.900 (former support from December) and the 61.8% Fibonacci correction of the upward impulse from November.

The active impulse wave 3 belongs to the intermediate impulse sequence (C) from the start of March.

NZDCAD is likely to fall further toward the next support level 0.8635 (multi-month low from October and the target price for the completion of the active impulse wave (C)).

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