NZDUSDT → False break of resistance may intensify the fall

2024年11月8日

NZDUSD in the Asian session tests resistance of the descending channel, excitement is formed by the reduction of interest rate in the U.S. by 0.25%



The currency pair does not have a clear trend on the global timeframe, locally - a downward trend formed on the negative fundamental background, which only intensified after Trump's victory. The impact on the market has a medium and long-term character, accordingly, any strong resistance can easily hold the market.
On H4, a false breakdown of trend resistance is forming. Consolidation is forming inside the channel, if bears hold the 0.602-0.603 zone, we should expect a decline to the zones of interest in the mid term

Resistance levels: 0.603, 0.604
Support levels: 0.595, 0.593, 0.5915

The focus is on the mentioned resistance, as the market struggle and further movement depends on this key zone at the moment. The bearish structure will be broken when the local high of 0.6038 is broken and the price consolidates above this zone.

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NZDUSD ;)

Regards R. Linda!

2024年11月8日

註釋

Hehehe NZDUSDT :D
That moment when crypto is already crowding in on you :D

2024年11月12日

交易結束：目標達成

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