NZDUSD Near a Major PRZ: Is a Bearish Reversal Starting?New Zealand Dollar vs. US DollarFX:NZDUSDpejman_zwinNZDUSD(NZDUSD) is currently trading near the Resistance Zone, the Potential Reversal Zone(PRZ), and the Resistance Lines. Multiple technical signals are now converging around the same area, increasing the importance of the current resistance structure. Can NZDUSD break above this zone, or is a bearish reversal about to begin? Technical Analysis From an Elliott Wave perspective, NZDUSD appears to be completing Wave 5 of a Leading Diagonal. A Negative Regular Divergence(RD-) is also visible between two Consecutive Peaks, suggesting that bullish momentum may be weakening. 💡 Educational Note: A Negative Regular Divergence occurs when price forms a higher high while momentum forms a lower high, often warning that the existing bullish move is losing strength. I expect NZDUSD to begin a bearish move soon and decline at least toward $0.5889. If bearish momentum strengthens, the decline could extend toward $0.5877. Trade Setup First Take Profit(TP): $0.5889 Second Take Profit(TP): $0.5877 Stop Loss(SL): $0.59620 Key Trading Level: $0.587 Which level do you think NZDUSD will reach first? 🔴 $0.5877 🟢 $0.59620 📌 NZDUSD Analysis, 1-hour time frame. 🛑 Always use proper risk management and set a Stop Loss(SL) for every position. 🚀 If this analysis helps your trading plan, a BOOST would help more traders discover it.