NZDUSD Looking For A Top and USDCAD Just Going Bullish
NZDUSD is trading bullish, unfolding a five-wave recovery within wave C. Current sub-wave v of C, that is on display is extended and can search for a top near the upper channel line, where even Fibonacci ratio of 61.8 can offer resistance and a turning point. A later break below the lower channel line would suggest a three-wave bearish reversal.
USDCAD is breaking higher, away from corrective wave 2, that found a base near the Fibonacci ratios of 61.8. Latest strong rally is now a suggestion for more upside to follow into black wave 3, with sub-wave one and two already completed. We know that wave three is usually the strongest, so current rally is already part of wave three that may pull price even higher.
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