EUR/NZD on a daily basis indicate a recently completed “XXL” size correction. The decreases lasted for 1.5 months and they moved price back to the area of an important support zone in the vicinity of 1.66. As you can see, the rate since February last year exactly respects the trend line, and when this line is applied to the highs, it turns out that you can draw a well-respected growth channel.

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The last drops have almost identical both range and duration with a correction from May-June 2017. Currently, there is a rebound from the trend line, the price is slowly increasing, but at the moment there is no strong impulse on the demand side. However, it seems that the technique favors the buyers’ side, possible pull backs can be used to look for trading opportunities.

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