EUR/USD reversed from support zone Next buy target - 1…
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).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.