NZDUSD SHORT - PRICE HAS JUST REACHED A KEY WEEKLY LEVEL!

Price has been moving in a corrective ascending channel on the daily chart and is now testing a strong level of weekly resistance. NZDUSD has been in this channel for a few months now and has just reached the upper trend line of the channel for a 3rd test. Whit this test price has shown us good signs of rejection on the H4 timeframe and a possible swing to test the previous daily level (blue line below price) is looking likely and if we see a break through that level we could see a longer swing to reach the lower trend line of the daily channel.