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NZDCAD approaching resistance, potential drop!

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New Zealand Dollar/Canadian Dollar (FX:NZDCAD)  
Tickmill Broker  
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns NZDCAD NZD CAD nzdcadlong nzdcadshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern nzdcad nzd cad nzdcadlong nzdcadshort forex forextrading forexsignals
NZDCAD is approaching our first resistance at 0.8560 (horizontal pullback resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.8500 (horizontal swing low support).
RSI (34) is also approaching our descending resistance line and a reaction below this level might see a corresponding drop in price.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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