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NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.90566, 0.91079, 0.91636.

Key Support Levels: 0.90021, 0.89356, 0.88545.

Daily Chart:

The price on the higher time frame is in a clear upward movement where higher highs and lows have been posted. The pair managed to break the daily resistance around the 0.90021 CAD mark and retrace to it. We expect further movement to the upside in the coming hours.

NZD/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price managed to break the bullish flag formation to the upside after finding buyers around the 61.80 % Fibonacci retracement level. a lower correction could be seen to the highlighted before a new bullish impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 0.90028

TP 1 @ 0.90555

TP 2 @ 0.91079

Stop Loss @ 0.89817

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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