Forex Analysis

NZDCAD Technical Analysis 8 September, 2021

• NZDCAD broke resistance zone
• Likely to rise to resistance level 0.9076

NZDCAD currency pair recently broke the combined resistance zone lying between key resistance level 0.8900 (which stopped the previous intermediate impulse wave (i) in July) and the 61.8% Fibonacci correction of the previous downward impulse (C) from the middle of April. The breakout of this resistance zone accelerated the active minor impulse wave 3 which belongs to the intermediate impulse wave (3) from June.

Given the rising NZD bullishness seen today – NZDCAD currency pair can be expected to rise further toward the next resistance level 0.9076 (monthly high form April and the target for the completion of the active wave 3).

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