NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.89969, 0.90544, 0.91116.
Key Support Levels: 0.89371, 0.88505, 0.87752.
The price on the higher time frame succeeded to break a strong resistance around the 0.88505 CAD mark with the help of an engulfing bullish pattern. We are expecting further movement to the upside in the coming hours toward the next key level.
NZD/CAD Medium-Term Trend: Bullish
On the lower time frame, the price managed to break the bullish flag formation to the upside after finding buyers around the 50% Fibonacci retracement. We could see a lower correction to this area again before a new impulsive wave to the 0.89969 CAD.
Buy Limit Order @ 0.89536
TP 1 @ 0.89956
TP 2 @ 0.90544
Stop Loss @ 0.89398
Trade Safely 🙂