The price has been consolidating within the range of 0.83275 and 0.83674 for three consecutive days. This period of consolidation indicates a potential buildup of market pressure and indecision among traders. Upon analyzing the daily and 4-hour charts, there are signs of strength in the New Zealand Dollar (NZD). If the price manages to break above the resistance level at 0.83674, it could signal a continuation of the upward momentum for the NZD.
Traders and investors are closely monitoring this price range as a breakout could lead to significant movements in the market. The consolidation phase suggests that the market is preparing for a potential shift in direction, and a breakout above 0.83674 could confirm the bullish bias for the NZD. It is essential to keep a close eye on price movements and key levels to capitalize on potential trading opportunities that may arise from this scenario. #OPINIONLEADER# #NZD/CAD#
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