NZDUSD FALLING between two strong levels

23 de dez. de 2020

In March this year, the price experienced a serious collapse. However, in the summer it pushed off the local support line and began to grow steadily.

During this growth, the price was able to make two important breakouts in a row. First, it broke through the support line that has existed on the chart since 2018. Secondly, it almost immediately broke through a strong historical level. By the way, the last breakout of this level was also in 2018. Then the price dropped. Now - began to grow

This level and line served as a good support for the price growth. However, in December, the price reached another strong level - the resistance level of 0.715. She touched it, carried it through and turned into a fall.

This movement is rather uneven, we could observe a sharp jump in the price down, and then the same sharp correction. Nevertheless, I am convinced that the price will continue to fall and come back to the support level.

Thus, I expect the final target - the support level 0.693.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻