NZD/CAD reversed from the support area

NZD/CAD reversed from the support area

  • NZD/CAD reversed from the support area
  • Next buy target - 0.9200

NZD/CAD recently reversed up from the support area lying between the key support level 0.9030 (former resistance level from December) and the 38.2% Fibonacci correction of the previous sharp upward impulse 1 from the middle of November. NZD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9200 (former strong support level from July and the top of the earlier impulse wave 1).



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…

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