Emerging Channel Down pattern in its final wave was identified on the NZDUSD 4 hour chart. After a strong bearish run, we find NZDUSD heading towards the upper triangle line with a possible resistance at 0.5677. If the support shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
NZDUSD is approaching a support line of a Channel Down. It has touched this line numerous times in the last 18 days.
