Will The NZDCAD Range Breakout Hold As New Support?

Will The NZDCAD Range Breakout Hold As New Support?

On the charts posted below of the NZDCAD pair. You can see a Daily range has been broken to the upside.

Now I must wait to see if price comes back to test the breakout of the range top as a new support. As you will read, within the support and resistance trading section on the site here.

This is the concept of where I have price resistance becomes price support.

Now I will wait to see, if the 4 hr chart gives a price action signal to buy of the range top. With plenty of room to the next resistance for a 3-1 risk to reward.

The question now is, will the NZDCAD range breakout hold as new support?

As usual if you have any questions or want to make any comments regarding this setup place a comment in the form below.

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