NZDCAD currency pair recently corrected down from the resistance area lying between the resistance level 0.87500 (top of the previous minor correction (iv) from the start of December, as can be seen from the daily NZDCAD chart below), strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the previous sharp downward impulse wave (i) from the start of November. Given the clear daily downtrend and the bullish Canadian dollar sentiment seen across the FX markets today, NZDCAD currency pair can be expected to fall further toward the next support level 0.86500 (low of the previous correction (b) from the middle of December).