NZD/CAD Correction

The NZD/CAD pair has been moving steadily to the upside for the past couple of weeks going from 0.8680 to a high above 0.90. Currently, price is a bit lower trading at 0.89710. If the correction is sustainable this could take the pair to first level of support at 0.8900.

Second support level is seen at 0.8808. The latest top almost made a double bottom before retracing in the opposite direction as bears were eager to short the pair. Major bear target is now seen at 0.8700.

On the other hand, if bulls can take the pair to a new high we could be looking at a continuation of the bullish movement that started at 0.8680. First bull target would be to take out the resistance in the face of 0.9030, second target would be a break of 0.91.

Chart:NZD/CAD H4