LeoPrime Daily Market Analysis

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NZDCAD reversed from support area; Likely to rise to 0.88000

NZDCAD recently reversed up from the support area located between the key support level 0.87000, lower support trendline of the daily down channel from September and the lower daily Bollinger Band. Given the bullish sentiment affecting New Zealand dollar today, NZDCAD is likely to rise further toward the next resistance level 0.88000 – the price will need to break the aforementioned up channel to reach this level.

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