NZDUSD continues to fall after the earlier breakout of the support trendline of the daily up channel from the start of November. The breakout of this up channel accelerated the active minor impulse wave 1 of the medium-term impulse sequence (1) from the start of January. Given the rising dollar bullishness on the skyrocketing covid cases in China and the risk of the wider lockdowns there – NZDUSD is expected to fall further toward the next support level 0.70000 (low of the minor correction 4 from last month and the support trendline of the weekly up channel from last year).