NZD/CAD approached pivotal resistance level 0.9550
- NZD/CAD approached pivotal resistance level 0.9550
- Next buy target - 0.9650
NZD/CAD has been rising in the last few trading session inside the minor impulse wave (iii) – which belongs to the impulse wave 3 - which began recently – when the pair reversed up from the support zone lying between the support level 0.9300 (previous buy target set for this currency pair), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse 1 from the middle of July.
NZD/CAD is currently trading close to the pivotal resistance level 0.9550 (which has been reversing the price from December). If the pair breaks above 0.9550 – the price can then rise to the next buy target 0.9650. Alternatively, the downward correction to 0.9400 is likely.