NZDUSD in an ascending channel, look for dips
Buy above 0.7035. Stop loss at 0.6946. Take profit at 0.7196.
Reason for the trading strategy (technically):
Price is in an ascending channel and we look to buy on dips above 0.7035 support (Fibonacci retracement, horizontal pullback support, bullish channel) for a push up to at least 0.7197 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees multiple ascending support lines holding our recent push up on price.
Reason for the trading strategy (technically):
Price is in an ascending channel and we look to buy on dips above 0.7035 support (Fibonacci retracement, horizontal pullback support, bullish channel) for a push up to at least 0.7197 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees multiple ascending support lines holding our recent push up on price.