Hi there fellow traders! NZDCAD is looking pretty bullish for me. After a Bullish Cypher pattern was formed on our Daily Chart, I am expecting market to hit our first target, which is our 38.2% fib level. Moving onto a lower time frame, market managed to break out of this (resistance) trend line & we may have a (second) retest on it as support. This retest is on our Daily support and right on the 61.8% fib level. We may see market make another Higher High to complete an ABCD pattern. Let's see how it goes!
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It is important to protect profits since we have ran into a strong resistance level.
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