Bearish outlook on NZDUSD - 22 February 2023

Prices are testing a support-turned-resistance zone at 0.6250 on the H1 timeframe. A pullback to this level could provide the bearish acceleration to the next support zone at 0.6200, which coincides with the 38.2% Fibonacci extension. Stochastic RSI is in the overbought region above 80, supporting our bearish bias.