NZDCAD: Watch this Key Support reactionPrice has been in a steady downtrend for a long while, respecting that descending trendline over and over again. Every touch was sold off, until recently. When price reached a key support zone and sent price back upward. The reaction from that area is visibly strong.
We then got a clean breakout above the trendline, showing us the first real sign of a possible reversal.
Right after the breakout, price pulled back.
If momentum holds, my expectation is for price to push higher toward the next key level around 0.81160, completing the transition from bearish pressure into a new bullish leg.
If the support breaks, the whole idea weakens. But for now, buyers are showing up exactly where they’re supposed to.
