October 08, 2020 at 03:47PM
• NZDCAD broke support zone
• Likely to fall to 0.8660
NZDCAD recently broke the support zone lying between the key support level 0.8750 and the 50% Fibonacci correction of the upward impulse wave (1) from August.
The breakout of this support zone accelerated the active downward impulse wave C of the ABC correction (2) from last month.
NZDCAD is likely to fall further toward the next support level 0.8660 (target price for the completion of the active sub-impulse wave (i)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/nzdcad-wave-analysis-8-october-2020-20201008/
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