Technical analysis

NZDCAD Wave Analysis 5 March, 2021

NZDCAD Wave Analysis 5 March, 2021

• NZDCAD reversed from key support level 0.9040

• Likely to rise to resistance 0.9100

NZDCAD recently reversed up from the key support level 0.9040 (former monthly low from the middle of January).

The support level 0.9040 stands at the precise intersection of the lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from November.

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

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