NZDCAD Wave Analysis

• NZDCAD reversed from support level 0.8615
• Likely to rise to resistance level 0.8775

NZDCAD recently reversed up with the daily Piercing Line from the key support level 0.8615 (which has been reversing the price from the start of March).

The support zone near the support level 0.8615 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward ABC correction from January.

NZDCAD can be expected to rise further toward the next resistance level 0.8775 (which stopped the previous waves (C) and (2)).