GBPNZD Approaching To The Lower Band Of The Channel

Price is approaching to the lower band of the ascending channel which is also near a demand zone. MACD shows a positive divergence. IF there was any rejection and push to the upside at this zone, we can expect the price to rise to the upper band of the channel. On the other hand, remember that channels usually like to be broken out to the opposite direction. So, IF channel had a downside breakout, price MIGHT fall to the new channel’s lower band.