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NZD/CAD 4H Chart: Broadening Falling Wedge

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 11, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    NZD/CAD 4H Chart: Broadening Falling Wedge Comment: The New Zealand Dollar has been declining against its Canadian counterpart since the beginning of 2016, trading in a broadening falling wedge. The pair recently confirmed the wedge’s support line and is now aiming to reach the upper boundary circa 0.93. However, daily technical studies suggest the exchange rate is to put the lower border to the test, but a breach is unlikely, as it is reinforced by the monthly S1. A strong resistance area is

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