NZDCAD - Range Breakout
NZDCAD has been ranging since December 2023. More specifically, this range formed in early December (of 2023) when price failed to form a new higher high.
I've been monitoring this pair on and off. While I have observed previous fake breakouts, or fakeouts, I would say the confidence level that this latest breakout holds is much higher.
This comes down to one simple reason - today's close. The bearish bar was strong and cleanly closed below the lower range boundary.
I've been monitoring this pair on and off. While I have observed previous fake breakouts, or fakeouts, I would say the confidence level that this latest breakout holds is much higher.
This comes down to one simple reason - today's close. The bearish bar was strong and cleanly closed below the lower range boundary.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.