NZDUSD fall and return in channel
During strong growth since the beginning of November, the price has broken through the upper line (resistance) of the ascending channel in which it has been moving since the beginning of 2020.
Then it came to the strong resistance line at 0.710.
And from her began to fall.
This is one of the strongest lines on the current chart.
She was educated in 2015.
Over the years, the price approached the line several times after a strong growth, but never broke through.
Despite the fact that the breakout of the channel is a serious sign, I expect the price to fall from the resistance.
So even if the price now corrects to it (which I doubt), it is still unlikely to break.
Moreover, the price is already showing a downward trend.
I expect the price to come to the support line (with a correction near the upper channel line).
The target is 0.688.
--------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Then it came to the strong resistance line at 0.710.
And from her began to fall.
This is one of the strongest lines on the current chart.
She was educated in 2015.
Over the years, the price approached the line several times after a strong growth, but never broke through.
Despite the fact that the breakout of the channel is a serious sign, I expect the price to fall from the resistance.
So even if the price now corrects to it (which I doubt), it is still unlikely to break.
Moreover, the price is already showing a downward trend.
I expect the price to come to the support line (with a correction near the upper channel line).
The target is 0.688.
--------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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