NZD/USD Upward Channel Trade.

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Currently, NZD/USD is trading at 0.7127. The price is trading in upward resistance and support level and can rebound back to resistance level after touching support. If the price rebound back after touching support, then 0.7120 is the best price to enter long position and the target price will be 0.7196. Mostly, channel trades give a good risk to reward ratio and can give decent profits.

Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.

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Thank you,

Rishikesh Lilawat

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