NZD/CAD-Daily analysis

Hello everybody!

-On this daily chart we can see that previous support line(yellow line) now becomes resistance line and the price was rejected when it hit that line.
-We can also see that yellow line is very strong support and now resistance because it had multiple touches in the past(about 15).
-On daily base NZD and CAD are at same level and on weekly base NZD is stronger than CAD.
-I recommend to wait until conformation signal if it is going to happen.In other case if NZD gain more bullish power the price may break that resistance line,...
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-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
CADChart PatternsNZDNZDCADSupport and ResistanceTrend Analysis

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