NZD/CAD: buy target - 0.9030
By: Dima Chernovolov
- NZD/CAD reached sell target 0.8900
- Next buy target - 0.9030
NZD/CAD recently reversed up sharply from the support level 0.8900 (which was set as the sell target in our previous forecast for this currency pair). The upward reversal from this support level continues the active impulse wave ③ – which started earlier this month, when the pair reversed up sharply from the strong support level 0.8900. The upward reversal from this support level led to the formation of the strong Japanese candlestick reversal pattern Morning Star (the middle candle of which is also the Hammer).
NZD/CAD is likely to rise further toward the next buy target at the resistance level 0.9030.