NZDUSD → The price could fall another 2.5%
Updated
NZDUSD is forming a return to a strong support zone after testing it after a year. Against the backdrop of a rising dollar, the chances of a support breakout are growing.The downtrend, rising dollar, weak fundamental background for NZD play a key role in forming a bear market. The price is testing the key resistance and trying to enter the selling zone. At the moment the price is restrained by the descending channel support and if the price manages to break this line and consolidate below, strong selling may be formed further, as there are no obstacles below it until 0.562.
Resistance levels: 0.577, 0.5817
Support levels: 0.575, 0.562
I do not exclude the possibility of correction if the buyers hold the support. But there is no chance of a trend change. Another retest of the support may lead to a breakdown and further fall to 0.562
Regards R. Linda!
Trade closed: target reached
0.5625
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NO‼️
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🧿Web: rlinda.com
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