SimpleFX NZDUSD Chart Analysis: October 22, 2019

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It is likely that now we see a price increase from the lower bound of the yellow channel in the direction of its upper wall. If the assumption is correct, the price rise will continue to the resistance level of 0.654, which is located on the upper yellow wall. This option is the main one, but it will be questioned if the price goes below the moving average. At the moment, the support level is approximately at 0.637. In the event of a break-down of this price level, the bears may open the way to the lower yellow bound and the support level of 0.627.
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