NZDCAD has been touching EMA(200), and it is now building up an uptrend momentum. A doji was formed on Friday candle, which indicates uncertainty to either direction. I'm expecting the price to retrace to around 0.90 zone, and this level is important, because:
1. A round number and it is acting as a strong support line.
2. Near 38.2% Fibonacci retracement line.
My target will be around 0.921 because:
1. Near 100% Fibonacci expansion line.
2. Was once a strong support at 13th April 2017 and throughout end of July 2017.
1. A round number and it is acting as a strong support line.
2. Near 38.2% Fibonacci retracement line.
My target will be around 0.921 because:
1. Near 100% Fibonacci expansion line.
2. Was once a strong support at 13th April 2017 and throughout end of July 2017.