NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.88823, 0.89039, 0.89500.

Key Support Levels: 0.88345, 0.88046, 0.88000.

1-Hr Chart:

The price on the higher time frame found support around the 0.88343 CAD mark and left a fake breakout to the downside. The market has been lifted to the upside by the help of a double bottom formation. We expect a reversal and a move to the upside in the coming hours.

NZD/CAD Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame, the price found buyers around the 61.80 % Fibonacci retracement level after managing to break the bearish channel to the upside. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 0.88359

TP 1 @ 0.88820

TP 2 @ 0.89039

Stop Loss @ 0.88128

Trade Safely 🙂