USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
NZD/CAD reached sell target 0.9220
2021-11-11 • Updated
- NZD/CAD reached sell target 0.9220
- Next sell target - 0.9080
NZD/CAD continues to fall after the earlier breakout of the major, multi-month support level 0.9220 (which was set as the sell target in our earlier forecast for this currency pair). This support level earlier reversed up the sharp impulse wave A at the start of January, as can be seen from the daily NZD/CAD chart below. The breakout of this support level accelerated the active minor impulse wave (iii), which belongs to the C-wave from February.
NZD/CAD is expected to fall further to the next sell target at the support level 0.9080 (monthly low from last September).
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