NZDUSD Short Opportunity - 1D Technical Analysis

The price is running within a descending (bearish) channel and is approaching a strong resistance level at 0.60525. I expect another slight rise to complete the descending channel and retest the resistance level. With a successful retest, we may see a reversal in the trend and a drop to at least the first support level at 0.58775 and eventually to the second support level at 0.58035.

NOTE: Do not apply trades blindly. Wait for confirmation and always analyze lower timeframes.

Let me know in the comment section below if you have any questions, ideas, or thoughts...

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