NZDUSD - A short squeeze amid a global downtrend New Zealand Dollar/US DollarFX:NZDUSDRLindaNZDUSD is forming a short squeeze as part of a counter-trend correction and is poised to decline within the broader bearish trend Despite the correction, the dollar remains in an uptrend. If the index bounces off support, this will intensify the currency pair’s decline... NZDUSD is forming a counter-trend correction against the backdrop of a long-term global trend. The price confirms the presence of resistance; the formation of a reversal setup and consolidation below 0.5769 could trigger a decline to 0.571–0.5658 Resistance levels: 0.5769, 0.5817 Support levels: 0.5711, 0.5658 Technically, NZDUSD appears weaker than other major currency pairs in the medium and long term. The global trend may put pressure on the price. Confirmation of a false breakout relative to the liquidity zone at 0.5769 could trigger a downward reversal. Best regards, R. Linda!