NZD/CAD reversed from support zone
- NZD/CAD reversed from support zone
- Next buy target – 0.9300
NZD/CAD recently reversed up from the support zone lying between the strong support level 0.9080 (former powerful resistance level from June – which also recently reversed the price with the strong daily Japanese candlesticks reversal pattern Hammer, as can be seen below) and the 50% Fibonacci retracement of the previous sharp upward price impulse from the end of April.
The upward reversal from the aforementioned support zone completed the previous intermediate correction (4) (which belongs to the primary upward impulse wave ③ from April). NZD/CAD is likely to rise to the next buy target at the resistance level 0.9300.