The NZDUSD market is currently moving within a clear bearish structure after forming a top around 0.6100, followed by a series of lower highs and lower lows. The break of the ascending trendline and the downside exit from the consolidation channel confirm a shift in momentum in favor of sellers. A strong rejection is also visible below the resistance zone around 0.5850 – 0.5900, reinforcing short-term bearish pressure.
Currently, price is accelerating downward after breaking a key support around 0.5800, opening the way for a continuation toward lower liquidity zones. The preferred scenario remains a move toward 0.5580, identified as a major demand area. A short-term pullback is possible, but as long as price stays below 0.5850, the bias remains clearly bearish.
Overall, the structure is now bearish, with a strong probability of continuation toward lower levels unless price reclaims key resistance levels.