Kiwi rate moves in the upward channel – we have talked about in yesterday analysis. Broader trend is however downward. Yesterday evening brought a slight supply reaction near the resistance zone. One thing led to another and now on the daily chart we have a pin bar candle which suggest a opportunity of downtrend activation.
Currently price is modestly moving higher and this is a retest of defended red-marked line. Closeness of resistance gives the sellers stronger positions here.
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