(MENAFN - FxPro)
- NZDCAD reversed from support area
- Further gains are likely
NZDCAD recently reversed up sharply from the combined support area lying between the key support level 0.8700 (low of the Morning Star from May) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the earlier medium-term downward ABC correction (2) from the start of June.
NZDCAD is expected to rise further and retest the next resistance level 0.8800 (former support from May).