NZD/USD: 1-hour
If you think the trend is your friend, you might wanna look at this rising channel setup on NZD/USD’s 1-hour forex time frame. The pair looks ready to test the channel support near the .7800 major psychological level while stochastic is starting to move up from the oversold area, indicating that a bounce could take place. If that happens, NZD/USD could make its way back up to the channel resistance near the .8000 major psychological level. For the Kiwi bears out there, you could wait to short at the top of the channel or wait for a downside break of support!
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