NZD/CAD: buy target - 0.9300
By: Dmitriy Chernovolov
- NZD/CAD reached buy target 0.9000
- Next buy target - 0.9300
NZD/CAD continues to rise after the recent sharp breakout of the round resistance level 0.9000 (which reversed the (A)-wave of the active primary ABC correction ② and which was set in our previous forecast as the buy target for this currency pair). The breakout of the resistance level 0.9000 coincided with the breakout of the 50% Fibonacci correction of earlier impulse ① - accelerating the 3rd minor impulse wave 3, which belongs to the (C)-wave from the middle of November.
NZD/CAD is likely to rise further to the next buy target at 0.9300 (target price calculated for the termination of the active ABC correction ②).