NZDCAD currency pair recently reversed down from the resistance zone lying between the key resistance level 0.85000 (former support which stopped the previous short-term impulse wave 3) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous short-term impulse wave 1 from the end of January. Given the strength of the aforementioned resistance zone and the clear downtrend that can be seen on the daily NZDCAD charts, NZDCAD currency pair can be expected to fall further toward the next support level 0.83450 (previous monthly low from January).