Emerging Channel Up pattern in its final wave was identified on the NZDUSD 4 hour chart. After a strong bullish run, we find NZDUSD heading towards the upper triangle line with a possible resistance at 0.6041. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
A Channel Up has formed, NZDUSD is approaching support. Can we expect a breakout and the start of a new trend or a reversal?
