{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzdusd-bears-dominate-as-price-declines-within-descending-channel\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzdusd-bears-dominate-as-price-declines-within-descending-channel\/","headline":"NZDUSD Bears Dominate as Price Declines Within Descending Channel","name":"NZDUSD Bears Dominate as Price Declines Within Descending Channel","description":"NZDUSD Analysis: Price Declines Within A Descending Channel As The Bears Remain Dominant NZDUSD declines within a descending channel as the bears remain dominant. Price reversed to the downside following the inverted hammer that formed at 0.65380. The market flipped bearish according to the Moving Average. This brought about more bearish pressure as the bears […]","datePublished":"2023-07-07","dateModified":"2023-07-07","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/07\/6QY7FBKw.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/07\/6QY7FBKw.png","height":635,"width":1117},"url":"https:\/\/forexschoolonline.com\/nzdusd-bears-dominate-as-price-declines-within-descending-channel\/","about":["FX Technical Analysis","NZD\/USD","NZDUSD","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":319,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","Market Anticipation","Market Prospect","NZD","NZD\/USD","NZDUSD","Price Action","Price Analysis","Technical Analysis","Trade idea","Trade Setup","USD"],"articleBody":"NZDUSD Analysis: Price Declines Within A Descending Channel As The Bears Remain DominantNZDUSD declines within a descending channel as the bears remain dominant. Price reversed to the downside following the inverted hammer that formed at 0.65380. The market flipped bearish according to the Moving Average. This brought about more bearish pressure as the bears seized market control.NZDUSD Significant ZonesDemand Zones: 0.59850, 0.55120Supply Zones: 0.65380, 0.70340On January 6, 2023, after an expansion to the upside, NZDUSD made a short-term retracement and created a swing low at 0.61910. This marked the last swing low into the premium zone at the 0.65380 price level. At the premium zone, the price reversed as an inverted hammer candlestick formed. Before the downtrend that ensued afterward, the price consolidated, but only for a short time. At the creation of the swing high, the downtrend began its course as the bears seized control of the market.The downtrend is currently continuing within a descending channel in the NZDUSD market. After the low at 0.61910 was invalidated, a new swing low was formed at 0.60840. During the creation of this swing low, NZDUSD experienced a hesitant upward expansion. This expansion lasted until it reached a lower high, lower than the previous swing high of 0.65380. The bears regained control as the market touched the diagonal resistance of the downward channel. According to the Stochastic Oscillator, NZDUSD is moving out of the oversold region. There is the possibility of further upward retracement until the diagonal resistance is reached.Market ExpectationFrom the four-hour Fair Value Gap in the discount zone, NZDUSD made an aggressive rally. The aggressive rally resulted in the recent invalidation of weak diagonal resistance. However, once the previous high of 0.62460 is broken, the bears might return to the market.Note:\u00a0Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results. "}