Weekly Technical Analysis of NZD-USD NzD

The New Zealand dollar is trading on the D1 daily chart below a major downtrend and below a cross zone which is 0.6230 - 0.6300 and this area is considered a strong selling area as it broke the price since last October 2019 and has not tested it yet

On the H4 chart, as shown in Figure 2, the pair is trading inside a cross channel that tends to go up, i.e. breaking this channel down, entering selling with the trend, with a suitable stop loss.

In general, we expect the price to rise inside the channel and meet the supply area with the edge of the upper channel, and it will be a strong sale with big targets and it is possible to consolidate below the trend as the trend will be down below the trend

General Direction: Down below the display area