This Is Likely to Happen.
1)Trend Continuation Pattern (Bearish Flag)
3)Feb-Ret 0.5 Resistance being followed in previous impulse.
4)Confluence With Old Structure.
5) Strong Resistance Provided by Old Structure.
The daily right side is down against .6978 and the 4 hour is favored turning down against there as well. The hourly is turning up against .6381. While above there it can see another high toward the .6700 area before turning lower again.
The weekly right side is down against the 7/27/17 highs at .7557. The daily right side is down against .6758 from 12/31/19. The 4 hour right side is down with a bearish sequence & the hourly is turning down against .6130. While below there the pair can continue lower again.
NZDUSD Analysis: Price sold as expected and is currently below resistance zone price 0.65785 and still underneath trend-line. We expecting price to possibly test resistance if not expect price to head towards support zone 0.64344 Long-Term Daily timeframe .
NZDUSD Analysis: Price is currently above support zone price 0.66528 and underneath trend-line. We expecting price to possibly test trend-line and continue sell towards support zone 0.66528 Long-Term daily timeframe
Price Sold as expected and is currently below resistance zone price 0.67477 and underneath trend-line. We expecting price to continue sell towards support zone 0.66528 then a possible retracement to trend-line Long-Term daily timeframe.
There is a end of this bigger corrective structure with lower and higher degree of 5th wave and C " wave respectively.
After reaching the level we will look for a new impulse.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !