Chart of The day $NZDUSD 07-5-2018

/ Chart of the Day / By Alex

On the NZDUSD chart, we can see that the pair is testing the strong downside support 0.6780-0.6820 zone after the bounce off the median Pitchfork channel line 0.6680 level. This zone needs to hold for the downside continuation. Only a daily close above the 0.6820 level would invalidate the downside continuation scenario.

Note: look for the short trade entries in case of the bearish price action with the stop loss above the 0.6820 level.

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