Price Attempting Breakout

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Similar to the EURNZD, price at the momentum is trying to breakout higher.

The difference in this market is that price has been in a trend higher on the daily charts since March of this year.

This breakout would be inline with the trend and would be forming a new higher high.

Similar to the EURNZD, we could watch the breakout old resistance to hold as a new potential price flip support level for long trades should price quickly rotate lower on the smaller time frames.

Penafian

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