Long

NZDUSD Buy opportunity at the bottom of the Channel Down.

The NZDUSD pair has been trading within a 8-month Channel Down since February and right now is staging the new rebound on its bottom (Lower Lows trend-line). The 1D RSI has been rebounding from the oversold zone on Higher Lows, while the candle action has been on Lower Lows, displaying a strong Bullish Divergence.

As a result, we have the ideal signals to go long and target the 0.618 Fibonacci level on a +4.35% rise at 0.61000.

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