NZD/CAD: buy target – 0.8700
By: Dmitriy Chernovolov
- NZD/CAD reached buy target 0.8600
- Next buy target - 0.8700
NZD/CAD today reached the round resistance level 0.8600 – which was set as the buy target in our previous forecast for this currency pair. The price earlier broke through the resistance trendline from the start of April – which accelerated the active minor corrective wave 2 - which started earlier, when the price reversed up from the pivotal support level 0.8300 (as you can see from the daily NZD/CAD chart below).
If NZD/CAD breaks above the resistance level 0.8700 – the price can then rise to the next buy target at the resistance level (which reversed the pair multiple times in July and August).