NZD/CAD: buy target - 0.9000
By: Dmitriy Chernovolov
- NZD/CAD rising inside intermediate ABC correction (2)
- Next buy target - 0.9000
NZD/CAD has been rising steadily in the last few trading sessions inside the C-wave of the active intermediate ABC correction (2) from the middle of November (which started when the price reversed up from the support level 0.8600). The active C-wave recently broke the resistance level 0.8800 – which intensified the bullish pressure on this currency pair.
NZD/CAD is expected to rise further in the active C-wave toward the next buy target at the round resistance level 0.9000 (target price calculated for the completion of the active ABC correction (2) and the top of the previous primary ABC wave ② from September). Strong support remains at 0.8800.