• NZDCAD reversed from resistance level 0.8280
• Likely to fall to support level 0.8065
NZDCAD currency pair earlier reversed down from the key resistance level 0.8280 – standing close to the 61.8% Fibonacci correction of the downward impulse from May.
The downward reversal from the resistance level 0.8280 started the active short-term downward impulse wave (iii).
Given the clear daily downtrend, NZDCAD can be expected to fall further toward the next support level 0.8065 (which has been reversing the pair from May).
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