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NZD/CAD reversed from support zone

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  • NZD/CAD reversed from support zone
  • Next buy target - 0.8900

NZD/CAD recently reversed up from the support zone lying between the pivotal support level 0.8740 (low of the previous wave (A) from September) and the lower daily Bollinger Band. The upward reversal from this support zone started the active minor impulse wave C of the ABC correction (B) from September. Given the clear bullish divergence on the daily Stochastic indicator - NZD/CAD is expected to rise to the next buy target at the next resistance level 0.8900.

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