NZD/CAD: buy target - 0.9300
By: Dmitriy Chernovolov
- NZD/CAD reversed from support zone
- Next buy target - 0.9300
NZD/CAD recently reversed up sharply from the support zone lying between the round support level 0.9000 (former strong resistance from October), the lower daily Bollinger Band and the Fibonacci cluster made out of the 38.2% Fibonacci correction of the previous primary ABC correction ② and the 50% Fibonacci correction of the previous (C)-wave from November. The upward reversal from this support zone started the active minor correction 2.
NZD/CAD is likely to rise further in the active minor wave 2 toward the next buy target at the resistance level 0.9300 (target price for the completion of the active wave 2).