NZD/USD Analysis – Symmetrical Broadening Wedge Pattern
The 4-hour chart below shows that NZD/USD remains within a descending channel and has rebounded from its channel support. The pair trades within a symmetrical broadening wedge pattern approaching the $0.5710 level. A breakout above the descending channel at $0.5650 would signal the end of the channel’s downtrend and could open the door for higher prices in NZD/USD.
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