Callumgt

NZD/USD support. long potential.

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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As you can see NZD/USD is currently in a bullish channel on the daily time frame. Price is currently sitting at the 0.70000 level which is a key psychological support level and is in confluence with the bottom trend line of the channel. On the 4hr time frame price is currently respecting the counter trend line . A BRC of this counter trend line will give me my entry and price will be above the 200ema which is also bullish confluence. With a break of the channel to the downside I will expect price to move with lots of bearish momentum.

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