NZDUSD → Retest of support and the probability of a pullback
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The NZDUSD is falling from the resistance zone to the lower boundary of the channel. The nearest retest of the lower liquidity zone in the form of a false breakdown could form an upward pullback reaction.
The local trend is downward, but globally the price is in a sideways range. From here we can assume that the price is able to form a pullback from the strong support level to the channel resistance.
Strong support: the area of 0.61000 (false-breakdown strategy)
Strong resistance: 0.61660, 0.62000
I expect that the price will be able to rebound from the support of the descending channel and form a change of the local trend.
Regards R. Linda!
The local trend is downward, but globally the price is in a sideways range. From here we can assume that the price is able to form a pullback from the strong support level to the channel resistance.
Strong support: the area of 0.61000 (false-breakdown strategy)
Strong resistance: 0.61660, 0.62000
I expect that the price will be able to rebound from the support of the descending channel and form a change of the local trend.
Regards R. Linda!
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