Today were going to have a look at the NZDUSD weekly chart. We can see that for close to 2 years price has been ranging in between our areas of support and resistance, or you could say it's a rectangle pattern. However you like to call it, we're seeing a long term consolidation of price between the upper and lower boundaries.
As price is currently at our support zone, one could potentially trade a convincing rejection of support looking to target at least the .72 levels, or alternatively a convincing breakout below or above our S&R zones could provide a long-term trend trade.
As price is currently at our support zone, one could potentially trade a convincing rejection of support looking to target at least the .72 levels, or alternatively a convincing breakout below or above our S&R zones could provide a long-term trend trade.