NZDUSD A bearish trend dominates the market. Price confidently continues to trade in the downtrending price channel and update the local minimums.
On the chart we can see that a pullback to the resistance zone is forming from the local trend support. There are no preconditions for the price to break the downtrend and my expectation is that from the resistance area , above which the limit levels may be, the price will continue its fall.
I assume, as the price forms a pullback to the resistance zone , so we wait for the testing of the level of 0.606 and watch for price reaction. I expect the continuation of the fall along the trend. The short-term target is the trend support of the channel, and the medium-term target is the support level of 0.592.
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