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NZDCAD 10 May 2023

NZDCAD 10 May 2023 on the H4 timeframe, the pair is experiencing a bullish trend as seen in the ichimoku indicator where the pair is above the kumo. This is also reinforced by the stochastic and RSI indicators which are above the 50 level. Therefore go-long could be an option. But considering the possibility of trend reversal due to overbought or bounce after touching the Resistance, then go-short is an option. Trade with your own risk.

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