NZDCAD - Range Breakout

NZDCAD has been ranging since December 2023. More specifically, this range formed in early December (of 2023) when price failed to form a new higher high.

I've been monitoring this pair on and off. While I have observed previous fake breakouts, or fakeouts, I would say the confidence level that this latest breakout holds is much higher.

This comes down to one simple reason - today's close. The bearish bar was strong and cleanly closed below the lower range boundary.