NZD/CAD reversed from resistance zone

NZD/CAD reversed from resistance zone

2019-11-11 • Updated

  • NZD/CAD reversed from resistance zone
  • Next sell target - 0.9075

NZD/CAD continues to fall after the earlier downward reversal from the resistance zone lying at the intersection of resistance level 0.9200 (former support from February), upper daily Bollinger Ban and the 61.8% Fibonacci correction of the previous ABC correction (2) from the middle of March. NZD/CAD is expected to fall further toward the next sell target at the next support level 0.9075 (low of the previous wave 2).

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The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.

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