Mahtab_Tradia

NZDUSD Going To Retest The Support Level

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
In the Daily chart , after price got rejected by the descending trend line on the second touch, has been pushed to the downside and is moving down towards the ascending trend line to retest it one more time.

We have two support levels here: one of them is a dynamic level (the ascending trend line ) and the other one is a static level ( support level 2).

I expect a fall in this pair around 0.7070 which we can consider it as a retest of the trend line , then if price gets rejected by this support level , we might see a rise towards the descending trend line and in the case of a downside push by this resistance level , price may fall again and even breaks the ascending trend line to the downside and falls to the support level 2 which can be around 0.68

Bullish Scenario: If the descending trend line ( resistance level ) broken out to the upside, we can expect a rise in price around 0.745
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Comments

perfect job
+1 Reply
Amazing job again. Keep it up!
+1 Reply
I am focused on the downside move personally. Great analysis.
+1 Reply
@KlejdiCuni Thanks a lot!
Reply
such great job here

thanks a lot for sharing
+1 Reply
Thanks for sharing :). Waiting for the trendline breakout. 🚀
+1 Reply
@financialflagship Thank you!
Reply
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