SimpleFX NZDUSD Chart Analysis: September 26, 2019

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The market movement can be described by two channels: yellow descending and green ascending. After the price fall within the yellow channel to its lower bound, we saw the beginning of the price rise within the green channel.  It is likely that not so long ago the price pushed off from the lower wall of the green channel and began to move to the upper bound and the resistance level of 0.636. However, if in the near future we see a decline and the lower bound of the green channel is broken, and the support level is 0.627, in this case the market will continue to move down to the level of 0.624, located on the lower yellow bound.

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