The bullish trendline that supported NZD/USD for over a month has finally been broken decisively, signaling a potential bearish reversal.
🔍 Technical Breakdown:
Price has rejected strong resistance around 0.6078 – 0.6100
Clean breakdown below the bullish trendline support
Market structure shift confirmed on the 4H chart
Bearish momentum is gaining strength with no signs of slowdown
📊 Bearish Scenario:
Expecting a minor pullback toward 0.5950–0.5980 zone (potential retest)
If resistance holds, likely continuation toward major support at 0.5490
✅ Trade Idea:
📍 Sell on pullback below 0.5980–0.6000 zone
🎯 Target: 0.5700 → 0.5550 → 0.5490
❌ SL above 0.6100
🔔 Watch closely for price action confirmation before committing – momentum is key.
#NZDUSD #ForexAnalysis #Breakdown #TrendReversal #TechnicalAnalysis #BearishSetup #TradingView #PriceAction
🔍 Technical Breakdown:
Price has rejected strong resistance around 0.6078 – 0.6100
Clean breakdown below the bullish trendline support
Market structure shift confirmed on the 4H chart
Bearish momentum is gaining strength with no signs of slowdown
📊 Bearish Scenario:
Expecting a minor pullback toward 0.5950–0.5980 zone (potential retest)
If resistance holds, likely continuation toward major support at 0.5490
✅ Trade Idea:
📍 Sell on pullback below 0.5980–0.6000 zone
🎯 Target: 0.5700 → 0.5550 → 0.5490
❌ SL above 0.6100
🔔 Watch closely for price action confirmation before committing – momentum is key.
#NZDUSD #ForexAnalysis #Breakdown #TrendReversal #TechnicalAnalysis #BearishSetup #TradingView #PriceAction
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.