- NZD/USD bears are lurking at dynamic 4-hour support.
- Bears in good stead from the longer-term perspective as well.
NZD/USD is testing critical support on the weekly time frame following a break of dynamic support that now acts as a counter trendline.
The following illustrates the prospects of a downside breakout with the confluence of the bearish head and shoulders on the daily chart as follows:
Weekly chart
Daily chart
4-hour chart
From a 4-hour perspective, the price needs to break the dynamic support as well as the horizontal.
