Bearish Outlook on NZDUSD - 5 Aug

Price has been adhering to the observed descending trendline on the H4 timeframe. A pullback to the key resistance zone at 0.6150, which coincides with the 50% fibonacci retracement, could provide the bearish acceleration towards the next support zone at 0.6000, which is in line with the 141.4% fibonacci extension. Price is hovering below ichimoku cloud, supporting our bearish bias.