NZD/CAD: buy targets - 1.4250 and 1.4300
By: Dmitriy Chernovolov
- NZD/CAD broke sideways price range
- Next buy targets - 1.4250 and 1.4300
NZD/CAD continues to rise after the recent breakout of the resistance level 0.8560, which is the upper boundary of the sideways price range inside which the pair has been trading from June (as you can see below). The lower boundary of this price ranges stands at the support level 0.8400. The breakout of this price range accelerated the (c)-wave of the active minor ABC correction 2 from last month.
NZD/CAD is likely to rise further toward the next buy targets at 0.8700 and 0.8800 (target price calculated for the completion of the active wave (c)).