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NZDUSD is my top priority at the moment. After having dropped more than 1,100 pips in 4 months, the pair began forming a bear flag pattern on October 6th. It does appear that the pair has now completed the pattern with a close below channel support on the 4 hour chart.
From here we can look for a resumption of the downtrend. If the market can get passed the recent low around .7710, we could see a push to the next key support level at .7480.
Summary: Watch for bearish price action on a retest of former channel support, new resistance. Key support comes in at the .7480 level.
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