NZDCAD - Textbook Channel 14 months strong & we're at the top
We've reached the top of a channel that has been forming since October 2019 and we're decreasing in volume indicating a potential reversal of the impulse since Early November.
This could mean a correction, short term to the middle of the channel before bouncing back off to the top or continuing to the bottom.
I'd give this a short leash to see how this level reacts as we aren't sitting on any significant resistance or supply level.
This could mean a correction, short term to the middle of the channel before bouncing back off to the top or continuing to the bottom.
I'd give this a short leash to see how this level reacts as we aren't sitting on any significant resistance or supply level.
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