Technical analysis

NZDCAD Wave Analysis – 3 June, 2021

• NZDCAD falling inside wave (2)

• Likely to reach support level 0.863

NZDCAD currency pair continues to fall inside the intermediate corrective wave (2) which started earlier from the key resistance level 0.8850.

The price is currently approaching the major support level 0.863, which has been reversing the price from last October.

NZDCAD can then be expected to reach the support level 0.863 (target price fort the completion of the active corrective wave (2)) – from where the pair is lily to correct up.

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