NZDUSD: Bearish Outlook Explained

The NZDUSD pair recently broke and closed below a key intraday support level.
After breaking the support, the market retested it and entered a consolidation phase.

A bearish breakout from this consolidation range confirms a strong bearish trend, increasing the likelihood of further declines.

The target for this downward movement is set at 0.5802.
Chart PatternsSupply and DemandSupport and Resistance

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