Dear Student,
Yes. It is true. Pressure and velocity are inversely proportional to each other. If pressure increases, the velocity decreases and vice versa.It is known as Bernoulli's principle.It states that as the speed of a moving fluid increases (liquid or gas), the pressure within the fluid decreases.
The concept is applied in the design of aircraft wings.The wings have a curved shape at the top.So when it moves through the air,the velocity of air on the top side increases.As a result topside will have a lower pressure and bottom side will have a higher pressure.Thus an upward force is created on the wings and aeroplane is able to move upwards.
(For higher grades , Bernoulli’s principle can be stated in detail as "The total mechanical energy of the moving fluid comprising the gravitational potential energy of elevation, the energy associated with the fluid pressure and the kinetic energy of the fluid motion, remains constant.")
Regards.