02/05/2024
FX SITS . We shall focus on the diagram attached . We see on the diagram long term bearish price action chart for NZDUSD. On it if we look we have point our with shapes the support and the resistance level of the chart showing us how price get resisted and supported when it got to the various level. If we notice before the bearish price action , Price got resisted at the same level twice as per our attached chart above at level 0.61967. Price then move bearish breaking the support level 0.60757 there by continuing the bearish price movement . The pair then retrace back to the previous support which turn resistance at price level 0.61967 where its find resistance before moving bearish breaking the support level and finding new support level at price 0.58535. With the major support level we saw how the pair got supported twice before moving bullish.
This explanation and diagram illustrate how price action and the currency pair movement are demonstrated. We offer full course of the financial market trading and other services .Click the link below and get more information.
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