The weekly chart has a bearish bias.
NZD/USD Price Analysis: According to the H4 structure price analysis, bears could strike at any time. The price is retaining the previous 4-hour lows of resistance, but the daily support structure seems menacing.
Chart NZD/USD H4 prior analysis
In the New York session, it was stated that bears would be encouraged by a break at 0.6589 daily support and could engage fully from there on outest of the structure. As you can see, the chart below shows that this would be expected as a firm resistance. This could lead to a continuation of the weekly bear trend.
The price is slowly creeping in towards the old resistance, and the 61.8% gold ratio seems to have done a good job at containing it so far. If the bears make a move at this point, the daily support structure close to 0.6590 could come under pressure and may give way on the third attempt to break out.
