JigneshDavda

NZDUSD Possible Bear Flag in Play

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD is set to close a third consecutive day in the red. A bear flag may potentially be playing out and price action is reaching the lower bound.

The pair has pretty much traded sideways for most of the year so a bounce from the lower line of the rising trend channel appears probable. A bearish break, however, should offer a good opportunity to get short.

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