NZD/USD Sellers Will Push for a Major Breakdown !
The NZD/USD pair shows signs of potential bearish continuation after a recent pullback from the 0.61179 level. This zone acted as a resistance point where buyers temporarily pushed the price upward but failed to maintain the momentum.
The price is now stalling just below 0.61094, indicating that bearish pressure is starting to outweigh buying interest. If this level holds as a resistance, the pair could break below the key support at 0.61006, triggering a larger move downwards.
The projected bearish path suggests that once the support is broken, the next target would be 0.60861, followed by a further move towards 0.60543, a strong area of support from previous price action. This setup favors sellers in the short-to-medium term, especially if a clear rejection from current levels is confirmed.
Traders should watch for a confirmed break below 0.61006 to initiate short positions, while a sustained move above 0.61179 would invalidate the bearish bias and open room for upside gains.
The price is now stalling just below 0.61094, indicating that bearish pressure is starting to outweigh buying interest. If this level holds as a resistance, the pair could break below the key support at 0.61006, triggering a larger move downwards.
The projected bearish path suggests that once the support is broken, the next target would be 0.60861, followed by a further move towards 0.60543, a strong area of support from previous price action. This setup favors sellers in the short-to-medium term, especially if a clear rejection from current levels is confirmed.
Traders should watch for a confirmed break below 0.61006 to initiate short positions, while a sustained move above 0.61179 would invalidate the bearish bias and open room for upside gains.
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