NZD/USD is approaching a support line of a Channel Down. It has touched this line numerous times in the last 7 days.

Either a rebound or a breakout imminent on NZD/USD
NZD/USD was identified at around 0.61195 having recently rebounded of the resistance on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 0.6083 level.

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