The short-term downtrend on NZDUSD began on March 21st. That was when the pair reached the range resistance that has been in place since January. And at the other end, NZDUSD just recently bounced from range support. During this latest selloff, the pair has carved a descending channel. The 4-hour time frame shows the pattern best. Now, I’m by no means saying the NZDUSD is about to turn higher. But it is imperative that sellers keep prices inside this channel in order to maintain the short-term bearish momentum. If buyers manage a 4-hour close above channel resistance, we could see NZDUSD pop higher to at least the ... (full story)