{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzdusd-sets-to-resume-bearish-trend\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzdusd-sets-to-resume-bearish-trend\/","headline":"NZDUSD Sets to Resume Bearish Trend","name":"NZDUSD Sets to Resume Bearish Trend","description":"Market Analysis – May 8 NZDUSD shows a predominantly bearish trend, indicating a higher presence of sellers compared to buyers. Price is currently experiencing a minor pullback, suggesting a possible continuation of the overall bearish trend. NZDUSD Significant Zones Resistance Levels: 0.60800, 0.62050Support Levels: 0.59550, 0.58400 NZDUSD experienced a noticeable shift in market structure followed […]","datePublished":"2024-05-12","dateModified":"2024-05-12","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\/2024\/05\/bt8oeQMu.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/05\/bt8oeQMu.png","height":611,"width":1195},"url":"https:\/\/forexschoolonline.com\/nzdusd-sets-to-resume-bearish-trend\/","about":["Article","charts","Forex","Forex Strategies","Forex Trading Tools","FX Technical Analysis","Price Action Charts in Focus","Price Action Trigger Signals","Support & Resistance","Technical Analysis","Trade Idea","Trading","Trading Mindset & Psychology","Trading strategy"],"wordCount":280,"keywords":["Daily Chart","Forex","FX Technical Analysis","Market Anticipation","Market Expectation","NZD\/USD","NZDUSD","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"Market Analysis – May 8NZDUSD shows a predominantly bearish trend, indicating a higher presence of sellers compared to buyers. Price is currently experiencing a minor pullback, suggesting a possible continuation of the overall bearish trend.NZDUSD Significant ZonesResistance Levels: 0.60800, 0.62050Support Levels: 0.59550, 0.58400NZDUSD experienced a noticeable shift in market structure followed by the bullish trend shifting to a bearish trend that emerged around mid-January 2024. This significant change catalyzed a downward movement in price, resulting in a bearish momentum that breached the established demand level at 0.59550. Despite this bearish indication, the market did not perpetuate its descent past the 0.58400 mark. Instead, a failed low was formed, suggesting a potential for a potential bullish retracement.The ensuing retracement encountered a bearish order block, which swiftly rejected price advances indicated by a large candle wick, thus supporting the anticipation of a resumption in the overall bearish trend. The price is anticipated to continue its downward trend, breaking through the liquidity at the 0.58400 level and eventually surpassing it.The daily Relative Strength Index indicates bearish prices as the market hovers around the 70.0 overbought region. On the 4-hour timeframe, the price is in the 30.0 overbought zone, suggesting a short-term bullish trend. However, this short-term bullish momentum is expected to retest the order block with 0.60800 acting as a key support level.Market ExpectationA significant bearish trend is expected as the price rejects the bearish order block. Price is likely to retest the order block, with the retest showing a rejection wick off the bearish order block.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results"}