NZDUSD → The bearish trend may get its continuation for OANDA:NZDUSD by RLinda

NZDUSD → The bearish trend may get its continuation

failed to realize the chance when the dollar went into correction. Buyers do not believe in the realization of the bullish scenario at the moment. The price continues to succumb to pressure

On the weekly timeframe the price approached the strong support level 0.5545 - 0.55. Accordingly, a reaction in the form of a small correction is possible. Small, because the dollar continues its bull run, and Trump's policy allows to keep this scenario in the medium term.
On H4, the price continues to test the support at 0.5588 and a local descending triangle is forming amid pressure from the bears. Possible retest of the channel resistance before further decline.

Resistance levels: 0.563, 0.567
Support levels: 0.5588, 0.5511

Technically, a breakdown and consolidation of the price below 0.5588 will provoke further sales against the background of the current local and global downtrend.

Regards R. Linda!

RLinda

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