Bearish Outlook on NZDUSD - 7 July 2023

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On H4 timeframe, price has recently rejected off from a key resistance zone at 0.6200 and broke below an ascending trendline. A pullback to resistance zone at 0.6200, which coincides with 78.6% Fibonacci retracement, could provide the bearish acceleration towards the next support zone at 0.6080, which is in line with the 241.4% Fibonacci extension.