NZD/CAD reversed from powerful support zone

NZD/CAD reversed from powerful support zone

  • NZD/CAD reversed from powerful support zone
  • Next buy target - 0.9450

NZD/CAD recently revered up sharply from the powerful support zone lying between the support levels 0.9270 and 0.9220 (which also reversed the price sharply in December and January). This support zone was strengthened by the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer – which started the active minor correction ii.

Given the bullish divergence on the daily Stochastic indicator - NZD/CAD is expected to rise further to the next buy target at the resistance level 0.9450 (top of the previous minor corrective wave ii).

Similar

Popular

Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera