New Zealand Pound Weekly Technical Analysis

The New Zealand Pound is moving in an ascending price channel, and as we mentioned last week, it fell from the resistance area and then rose from the mentioned support area.
Now we expect the continuation of the rise from the support area at 1.9580 levels, to target the resistance area at 1.9832 levels, and from the resistance area we expect a corrective downside wave before completing the rise and targeting the second resistance area at 2.000 levels.
But in the event that a four-hour candle closes below the level of 1.9376, we expect the beginning of the decline and targeting the support area at 1.9135 levels, from which the bottom of the week is expected.