Technical analysis

NZDCAD Wave Analysis 25 January, 2021

NZDCAD Wave Analysis 25 January, 2021

• NZDCAD rising inside impulse wave 3.

• Likely to rise to resistance level 0.9250

NZDCAD recently reversed up from the support level 0.9062 (former minor support from the middle of December) – standing near the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.

The upward reversal from the support level 0.9062 started the active short-term impulse wave 3.

NZDCAD is expected to rise further toward the next resistance level 0.9250 (top of the previous minor impulse wave 1 from the start of January).

Article Rating