Cabana Capitals Blog Technical Analysis Support line breached by NZDUSD

Support line breached by NZDUSD

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This trade setup on NZDUSD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 0.5974.

Target: 0.5974 Entry: 0.6045 Stop: 0.6082

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