NZDCAD: Bullish Breakout Price action has successfully broken the descending parallel channel. We can see Price has tested the Channel support and Resistance line on several occasions.
Bullish indications
Price action is achieving new Higher Lows and Higher Highs and a breakout starting from the median line of the channel is a good sign. Price has respected Fib level 61.8% which is now our support level which indicated use of fib level can be beneficial for TP and SL.
0.86365 is the next Resistance zone line.
Last 10 years Seasonal analysis indicates Zxy remains Bullish in December over 66% of the time while CXY remains Bullish only 50% of the time. No Divergence was Spotted.
Manage your Risk accordingly.
