NZD/CAD reached buy target 0.9650
- NZD/CAD reached buy target 0.9650
- Next buy target - 0.9800
NZD/CAD today broke above the resistance level 0.9650 (which reversed the previous impulse wave (i) and which was set as the buy target in our earlier forecast for this currency pair). The breakout of this resistance level is likely to accelerate the active minor impulse wave (iii) – which started earlier - when the pair reversed up from the pivotal support level 0.9550 (former major resistance level from July and August).
NZD/CAD is expected to rise further in the direction of the next buy target at the resistance level 0.9800. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the aforementioned price level 0.9650.