NZDUSD H8New Zealand Dollar vs. US DollarFX:NZDUSDWinlouh Market Structure Macro: Bearish — downtrend from 0.6000 intact First bearish leg completed — dropped from 0.5945 → 0.5730 (-0.272 ext.) Minor bounce to red supply zone (0.5794–0.5869) — now rejecting -0.272 ext. (~0.5700) already tagged — but structure suggests continuation -1.272 ext. (~0.5587) is the next major target Projected Scenario 🔴 Bearish — main bias: Rejection from red supply zone (~0.5794–0.5869) Break below current lows Drop to -0.272 (~0.5700) Continuation to -1.272 (~0.5587) Extreme target -1.272 lower (~0.5473) Bias Summary Short-term: 🔴 Bearish — supply zone rejection, targeting 0.5587 Extreme target: 0.5473 on full bear extension Invalidation: Break above 0.5869 delays bear move