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So AUD/NZD has come to my attention with this beautiful technical set up having a pattern within a pattern.
[/vcj_text_block][vcj_text_block paragraph_whitespace=”1″]The large channel we can see comes from the weekly timeframe, and we recently had an aggressive sell off with price reacting from the upper channel boundary around 1.0800.[/vcj_text_block][vcj_text_block paragraph_whitespace=”1″]
As we are now approaching the channel base we can see we have a smaller channel running into this area. Whenever you have two patterns converging like this is can offer a fantastic reversal area.
[/vcj_text_block][vcj_text_block paragraph_whitespace=”1″]We will now be looking for buyers to step in and drive price higher with the initial target of 1.0480. If this is broken there is plenty of room for this pair to run even further![/vcj_text_block][vcj_empty_space height=”20px”][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=”1/4″][vc_row_inner equal_height=”yes” overflow=”default” padding_tablet=”0px 0px 80px 0px” css=”.vc_custom_1583609527898{margin-bottom: 10px !important;margin-left: 2px !important;}” shadow_hover_custom=”-webkit-box-shadow: 10px 10px 17px 1px rgba(0,0,0,0.32); -moz-box-shadow: 10px 10px 17px 1px rgba(0,0,0,0.32); box-shadow: 10px 10px 17px 1px rgba(0,0,0,0.32);”][vc_column_inner overflow=”default” padding_tablet=”0px 30px 0px 30px” max_width=”700px” css_animation=”fadeInUp” css_animation_delay=”0s” css_animation_speed=”0.7s” css=”.vc_custom_1583588182205{background-color: #242424 !important;border-radius: 10px !important;}” background_image_hover=”8823″][vcj_empty_space height=”20px”][vcj_text_block paragraph_whitespace=””][/vcj_text_block][vcj_empty_space height=”5px”][vcj_text_block paragraph_whitespace=””]
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