NZDUSD fall after fix on resistance line

23 Kas 2020

After a strong growth in early November (supported by the support line), the price came to the strong resistance line of 0.602.
The price does not have enough resources to break through it, since everything was devoted to strong growth.
However, she still has not fallen and moves along the line, minimally leaving it.
This movement has continued since the beginning of last week.
It is important that this resistance line has existed since 2019.
And since the spring of 2020, the price has never managed to seriously break it.

I think that it will not succeed even now (remember the strong growth before touching).
Therefore, I expect that, despite the breakdown from the resistance line, the price will fall to a strong support zone around 0.671.

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