NZDUSD falling from strong resistance
Since the end of spring, the price has been moving in an upward channel.
She formed it by breaking the line. support 0.624.
However, in November the price broke through the channel at 0.698 and rose.
She came to the strong resistance line at 0.714.
Then she fell to support (the top line of the channel).
It rebounded and is now in the process of growing towards the resistance line again.
This is the strong line of 2010.
I expect the following price movement:
- The price will rise and touch the resistance around 0.716.
- It will turn around, start falling and break through the channel border (support).
- Will fall to the lower channel line - resistance.
The target is 0.687.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
She formed it by breaking the line. support 0.624.
However, in November the price broke through the channel at 0.698 and rose.
She came to the strong resistance line at 0.714.
Then she fell to support (the top line of the channel).
It rebounded and is now in the process of growing towards the resistance line again.
This is the strong line of 2010.
I expect the following price movement:
- The price will rise and touch the resistance around 0.716.
- It will turn around, start falling and break through the channel border (support).
- Will fall to the lower channel line - resistance.
The target is 0.687.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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