NZDUSD H4 SHORT SETUP: 15 JULY 2025NZD/USDOANDA:NZDUSDPedro_07Based on the 4-hour chart of NZD/USD, here's a technical analysis of the current setup: \--- 🕒 Timeframe: 4H 💱 Pair: NZD/USD 📉 Current Price: Around 0.59430 --- 🔍 Chart Structure and Analysis: 🔻 Trend: The market is in a clear downtrend, as indicated by the descending channel and the strong bearish candle that broke below the previous support zone. Sellers are currently in control. --- 📍 Key Zones: 🔴 Sell Zones (Supply): 0.59668 – 0.59795: Marked as a supply/sell zone. Price previously reacted here and dropped sharply. Expect selling pressure if price retests this zone. --- 🟢 Take Profit (TP) Targets / Demand Zones: 1. TP Target 1: Around 0.59430 – 0.59300 — Already hit; slight bounce seen. 2. TP Target 2: 0.58974 — This is the next key target/support zone, which aligns with a prior low. --- 🔁 Possible Scenarios: ✅ Scenario 1: Continuation Bearish If price fails to break back above the 0.59668 resistance, it will likely: Consolidate below, Retest and reject again, Then head lower toward 0.58974 (TP2). ⚠ Scenario 2: Short-Term Retracement If there's a bounce (as seen by the current candle's wick), price may retest the sell zone at 0.59668–0.59795. This could present another short entry opportunity with a target at 0.58974. --- 📊 Confluences: Weekly Pivot + Structure Resistance near 0.59668: Strengthens the sell zone. Strong Bearish Momentum Candle: Signals potential for continuation. TP Zone overlaps with S2 level: Providing possible support/bounce area.