As soon as it was announced that Prime Minister of New Zealand will be Jacinda Ardern, on October 19, NZD took a dive and hit a support line.

The ascending triangle is very clear, together with at least two channels.

Mind that NZDJPY has a favourable carry trade.

Very favourable risk reward opportunity.

Long.

SL 78.855

Beyond Technical AnalysisTrend Analysis

Disclaimer