NZDUSD will fall to strong support

18 нояб. 2020 г.

For a week already, the price has been moving along the strong resistance line (0.692).
In the last week alone, she touched it three times and has never been able to pierce it.
This resistance line has been around since 2019.
And the last time the price managed to break through it was during the fall in February 2020.
That time, the price dropped significantly.

Therefore, now I do not think that the price will be able to break the line and grow higher.
Moreover, since the beginning of November it has shown a fairly steady growth from the support line.
This growth cannot last long.
This is another reason for the fall in prices.
I expect it to collapse towards a strong support zone.
The target is the support line 0.671.

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