USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
NZD/CAD broke support zone
2019-11-11 • Updated
- NZD/CAD broke support zone
- Next sell target - 0.8800
NZD/CAD recently broke through the key round support level 0.9000. The breakout of this support level accelerated the active minor corrective wave 2 – which started earlier from the key resistance level 0.9200. NZD/CAD is expected to fall further toward the next sell target at the next support level 0.8800 (low of the previous corrective wave (2) from May).
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…