Hello folks, OANDA:NZDUSD is one of the pair I have on watchlist this week.
NZDUSD has been trading within an ascending channel since [February 5th]. Price recently tested the 1HTF supply zone at 0.61584, a potential resistance zone.
From Daily Timeframe: The pair is currently in a consolidation phase following a downtrend. We're expecting a continuation of trend on this time frame.
However, on 1HTF we may experience a pause in price to provide a continuation pattern giving us an opportunity to join the train or we just wait for the complete break and retest of the structure to then go Short on it.
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