NZDCAD Wave Analysis – 7 October, 2019

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  • NZDCAD reversed from resistance area
  • Likely to fall to 0.8300

NZDCAD recently down from the resistance area lying between the major resistance level 0.8410 and 61.8% Fibonacci correction of the previous sharp downward impulse wave 1 from September.

The downward reversal from this support area started the active short-term impulse wave 3.

With the rising Canadian Dollar bullishness – NZDCAD is expected to fall further and retest the next support level 0.8300 (former support from last month)

 

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