NZD/CAD: buy targets - 0.8900 and 0.9000
By: Dmitriy Chernovolov
- NZD/CAD reached buy target 0.8700
- Next buy targets - 0.8900 and 0.9000
NZD/CAD has been rising sharply in the last few trading sessions inside the second minor corrective wave 2, which started in September. The price earlier broke through the resistance level 0.8700, which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level accelerated the active wave 2 – helping the pair today break the next strong resistance level 0.8800 (which reversed the previous intermediate ABC correction (2) in August).
NZD/CAD is likely to rise further toward the next buy targets at the resistance levels 0.8900 and 0.9000 (which reversed the price multiple times in May).