NZD/CAD: war between trendlines

The pair has been on the run during the past few weeks and stabilising on daily and weekly basis.

On the hourly time frame , The pair is supported at the area of 0.9510 and will probably looking for a move higher but it will be still bounded by the bearish trend line formed on the 4h chart.

The pair also has a supportive trend line on the 4h chart , so I prefer breaking out higher and trading above 0.96 figure all the way to 0.9680 area.

A close below 0.95 on the 1h chart is warning and a close below the trend line on the 4h chart is an invalidation of the trade..

Happy trading

Remember to follow me on twitter for more trading ideas and updates on this trade and more ..

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