NZDCAD 17/APR/2023

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NZDCAD has formed a bearish channel pattern, price has been consistently moving downwards within a defined channel. Currently, the price is approaching the support level of the bearish channel, which is a price level where historically the price has tended to bounce upwards. This suggests that there is a possibility of a price rebound or bounce upwards from the support area, based on historical price behavior. Traders may interpret this as a potential buying opportunity, as the price could potentially move higher from the support level.

Penafian

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